Original article by Roy Morgan
Market Research Update – Page: Online : 19-Oct-22

ANZ-Roy Morgan Consumer Confidence fell 2.4pts to 82.2 in the week ended 16 October. It is now 24.8pts below the same week a year ago (107.0), and 8.1pts below the 2022 weekly average of 90.3. Consumer Confidence fell in most States: down in NSW, Victoria, Queensland and South Australia, but there was an improvement in Western Australia. Now 22% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 45% (up 1ppt) say their families are ‘worse off’ financially. Some 32% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 34% (up 4ppts) expect to be ‘worse off’ financially. Only 7% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 38% (unchanged) expect ‘bad times’. Meanwhile, 22% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 48% (up 3ppts) say now is a ‘bad time to buy’.

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