Original article by Roy Morgan
Market Research Update – Page: Online : 18-Oct-23

ANZ-Roy Morgan Consumer Confidence fell 3.7pts to 76.4 in the week to 15 October, unable to register back-to-back weeks above 80 for the first time since early February. Consumer Confidence is now 5.8pts below the same week a year ago (82.2), and below the 2023 weekly average of 78.1. Consumer Confidence was down in NSW, Victoria, Queensland and South Australia, but up slightly in Western Australia. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 53% (up 4ppts) say their families are ‘worse off’ financially. Only 6% (down 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 37% (up 1ppt) expect ‘bad times’. Meanwhile, 18% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 52% (unchanged) say now is a ‘bad time to buy’.

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