Original article by Roy Morgan
Market Research Update – Page: Online : 8-Feb-23

ANZ-Roy Morgan Consumer Confidence fell 3.2pts to 83.6 in the week to 5 February, the largest weekly drop for six months since early August 2022. Consumer Confidence is now 16.3pts below the same week a year ago (99.9), and 2.7pts below the 2023 weekly average of 86.3. Unusually, Consumer Confidence was down in all five mainland States. Now 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 47% (up 3ppts) say their families are ‘worse off’ financially. Some 33% (down 1ppt) 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 9% (up 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 33% (up 3ppts) expect ‘bad times’. Meanwhile, 23% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 49% (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