Original article by Roy Morgan
Market Research Update – Page: Online : 5-Oct-22

ANZ-Roy Morgan Consumer Confidence fell 2.3pts to 85.5 in the week ended 2 October. It is now 19.1pts below the same week a year ago (104.6), and 5.1pts below the 2022 weekly average of 90.6. The fall in Consumer Confidence was broad-based, with the index falling in all five mainland States – the first time that has happened since early August. Now 24% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 42% (also unchanged) say their families are ‘worse off’ financially. Some 31% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (unchanged) expect to be ‘worse off’ financially. Only 6% (down 3ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 36% (up 3ppts) expect ‘bad times’. Meanwhile, 25% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 43% (down 2ppts) say now is a ‘bad time to buy’.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ