Original article by Roy Morgan
Market Research Update – Page: Online : 18-Jan-23

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 87.7 in the week ended 15 January, at its highest level since late September 2022 (87.8). However, Consumer Confidence is 10.5pts below the same week a year ago (97.9), although it is now only 1pt below the 2022 weekly average of 88.7. Consumer Confidence was mixed around Australia and was up in Victoria and Western Australia (for the first time this year), but down in NSW, Queensland and South Australia. Now 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 43% (down 2ppts) say their families are ‘worse off’ financially. Some 35% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year (the highest figure for this indicator since March 2022), while 29% (up 1ppt) expect to be ‘worse off’ financially. Only 8% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 31% (down 1ppt) expect ‘bad times’. Meanwhile, 26% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 46% (up 1ppt) say now is a ‘bad time to buy’.

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