Original article by Roy Morgan
Market Research Update – Page: Online : 25-Jan-23

ANZ-Roy Morgan Consumer Confidence fell 1.8pts to 85.9 in the week ended 22 January. Consumer Confidence is now 14.2pts below the same week a year ago (100.1), and 2.8pts below the 2022 weekly average of 88.7. Consumer Confidence was down slightly in most parts of Australia including New South Wales, Victoria, Western Australia and Queensland, but it was up in South Australia. Now 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 45% (up 2ppts) say their families are ‘worse off’ financially. Some 34% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (up 2ppts) expect to be ‘worse off’ financially. Only 9% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 30% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since late May 2022 – the week after the election of the Albanese Government). Meanwhile, 23% (down 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 47% (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