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

ANZ-Roy Morgan Consumer Confidence fell 0.8pts to 74.1 in the week to 2 July. Consumer Confidence has now spent 18 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 9.6pts below the same week a year ago (83.7), and 4.7pts below the 2023 weekly average of 78.8. Consumer Confidence was down in NSW, Victoria and Queensland, but up in WA and SA. Now only 19% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 56% (up 1ppt) say their families are ‘worse off’ financially (the equal record high for this indicator). Some 28% (unchanged) of Australians now expect their family to be ‘better off’ financially this time next year, while 40% (down 1ppt) expect to be ‘worse off’ financially. Only 6% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 43% (also unchanged) expect ‘bad times’. Meanwhile, 21% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 52% (down 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