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

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 80.0 in the week to 26 February. However, Consumer Confidence is still 19.2pts below the same week a year ago (99.2) and 3.7pts below the 2023 weekly average of 83.7. Consumer Confidence was down in Victoria, Queensland, Western Australia and South Australia, but up slightly in New South Wales. Consumer Confidence is now below 80 in Victoria and Queensland. Now 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 48% (up 1ppt) say their families are ‘worse off’ financially. Some 32% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 35% (up 1ppt) 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% (up 1ppt) expect ‘bad times’. Meanwhile, 21% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 52% (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