Original article by Roy Morgan
Market Research Update – Page: Online : 15-Mar-23

ANZ-Roy Morgan Consumer Confidence fell 2.9pts to 77.0 in the week to 12 March; this is the lowest rating since early April 2020, in the early days of the COVID-19 pandemic. Consumer Confidence is now 18.8pts below the same week a year ago (95.8), and 5.7pts below the 2023 weekly average of 82.7. Consumer Confidence was down around the country this week and below 80 in all five mainland States after the RBA raised interest rates for a record tenth straight meeting. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 52% (up 4ppts) say their families are ‘worse off’ financially. Some 30% (down 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 37% (up 2ppts) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 38% (also unchanged) expect ‘bad times’. Meanwhile, 19% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 53% (also unchanged) say now is a ‘bad time to buy’.

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