Original article by Roy Morgan
Market Research Update – Page: Online : 17-May-23

ANZ-Roy Morgan Consumer Confidence fell 1.8pts to 75.9 in the week to 14 May. The index has now spent 11 straight weeks below the mark of 80 – the longest stretch below 80 since the index began being conducted on a weekly rather than a monthly basis in October 2008. Consumer Confidence is now 13.4pts below the same week a year ago (89.3), and 4.4pts below the 2023 weekly average of 80.3. Consumer Confidence was down in NSW, Queensland, WA and SA; however, it was up in Victoria. Now 17% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator since April 2020), while 56% (up 3ppts) say their families are ‘worse off’ financially (a new record high for this indicator). Some 30% (down 2ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 37% (up 3ppts) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 37% (down 1ppt) expect ‘bad times’. Meanwhile, 18% (unchanged) 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’.

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