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

ANZ-Roy Morgan Consumer Confidence fell 2.4pts to 75.8 in the week to 20 August, and it has now spent a record 25 straight weeks below the mark of 80. Consumer Confidence is now 9.8pts below the same week a year ago (85.8), and 2.3pts below the 2023 weekly average of 78.1. Consumer Confidence was down in the three largest States of New South Wales, Victoria and Queensland, but up slightly in both Western Australia and South Australia. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 53% (unchanged) say their families are ‘worse off’ financially. Some 29% (down 2ppts) of Australians now expect their family to be ‘better off’ financially this time next year, while 36% (up 2ppts) expect to be ‘worse off’ financially. Only 7% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 39% (up 3ppts) expect ‘bad times’. Meanwhile, 18% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 55% (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