Original article by Roy Morgan
Market Research Update – Page: Online : 7-Jun-23

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 75.8 in the week to 4 June. Consumer Confidence has now spent 14 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 11.2pts below the same week a year ago (87), and 4pts below the 2023 weekly average of 79.8. Consumer Confidence was up in Victoria, Queensland and Western Australia, but down in NSW and SA. Now 17% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 54% (up 1ppt) say their families are ‘worse off’ financially. Some 28% (down 1ppt) of Australians now expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator since April 2020 at the start of the pandemic), while 39% (up 4ppts) expect to be ‘worse off’ financially (the highest figure for this indicator since August 1989). Only 5% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 39% (down 1ppt) expect ‘bad times’. Meanwhile, 21% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 52% (down 2ppts) say now is a ‘bad time to buy’.

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