Original article by Roy Morgan
Market Research Update – Page: Online : 16-Aug-23

ANZ-Roy Morgan Consumer Confidence rose 3.2pts to 78.2 in the week to 13 August. Despite this week’s improvement, the index has now spent a record 24 straight weeks below the mark of 80. Consumer Confidence is now 6.2pts below the same week a year ago (84.2), and in line with the 2023 weekly average of 78.2. Consumer Confidence increased in Victoria, Queensland, Western Australia and South Australia, but it was down slightly in New South Wales. Now 21% of Australians (up 4ppts) say their families are ‘better off’ financially than this time last year, while 53% (down 4ppts) say their families are ‘worse off’ financially. Some 31% (up 3ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 34% (down 4ppts) expect to be ‘worse off’ financially. Only 7% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 36% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 57% (up 3ppts) say now is a ‘bad time to buy’.

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