Original article by Roy Morgan
Market Research Update – Page: Online : 3-May-23

ANZ-Roy Morgan Consumer Confidence rose 1.8pts to 79.8 in the week to April 30. The index has now spent nine straight weeks below the mark of 80 – the longest stretch below 80 since the index began being conducted on a weekly rather than monthly basis in October 2008. Consumer Confidence is now 10.9pts below the same week a year ago (90.7), and 0.9pts below the 2023 weekly average of 80.7. Consumer Confidence was mixed around the States, with increases in Queensland and WA, but down in NSW, Victoria and South Australia. Now 20% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 50% (unchanged) say their families are ‘worse off’ financially. Some 31% (up 1ppt) of Australians now expect their family to be ‘better off’ financially this time next year, while 34% (down 1ppt) expect to be ‘worse off’ financially. Only 6% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 35% (down 3ppts) expect ‘bad times’. Meanwhile, 20% (unchanged) 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