Original article by Roy Morgan
Market Research Update – Page: Online : 1-Feb-23

ANZ-Roy Morgan Consumer Confidence rose 0.9pts to 86.8 in the week to 29 January, the third increase out of four weeks so far this year. However, Consumer Confidence is still 15pts below the same week a year ago (101.8), and 1.9pts below the 2022 weekly average of 88.7. Consumer Confidence around Australia was mixed, with the measure up in New South Wales, Queensland and Western Australia, but down in Victoria and South Australia. Now 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 44% (down 1ppt) say their families are ‘worse off’ financially. Some 34% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 30% (down 1ppt) expect to be ‘worse off’ financially. Only 7% (down 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 30% (unchanged) expect ‘bad times’. Meanwhile, 24% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 46% (down 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