Original article by Roy Morgan
Market Research Update – Page: Online : 5-Apr-23

ANZ-Roy Morgan Consumer Confidence rose 1.6pts to 78.2 in the week to April 2; however, this is the fifth week in a row the index has been below the mark of 80 – the first time this has happened since the index began being conducted on a weekly rather than a monthly basis in October 2008. Consumer Confidence is now 15.2pts below the same week a year ago (93.4), and 3.5pts below the 2023 weekly average of 81.4. Consumer Confidence was mixed around the country this week; it was driven upwards by a significant increase in New South Wales following the state election, and it was also up in WA and SA. In contrast, Consumer Confidence was down in Victoria and Queensland. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 52% (unchanged) say their families are ‘worse off’ financially. Some 32% (up 2ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 35% (down 1ppt) expect to be ‘worse off’ financially. Only 6% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 36% (down 4ppts) expect ‘bad times’. Meanwhile, 18% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 53% (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