Original article by Roy Morgan
Market Research Update – Page: Online : 22-Mar-23

ANZ-Roy Morgan Consumer Confidence fell 0.5pts to 76.5 in the week to 19 March; this is the lowest rating since early April 2020, in the early days of the COVID-19 pandemic. Consumer Confidence is now 14.7pts below the same week a year ago (91.2), and 5.6pts below the 2023 weekly average of 82.1. Consumer Confidence was mixed around the country; it was up in Victoria, Western Australia and South Australia, but down in Queensland, and crucially down in New South Wales ahead of the election on Saturday. Now 19% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 52% (also unchanged) say their families are ‘worse off’ financially. Some 30% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 37% (also unchanged) 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 39% (up 1ppt) expect ‘bad times’. Meanwhile, 18% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 55% (up 2ppts) say now is a ‘bad time to buy’ (the highest figure for this indicator since early April 2020).

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