Original article by Roy Morgan
Market Research Update – Page: Online : 8-Nov-23

ANZ-Roy Morgan Consumer Confidence rose 2.8pts to 77.8 in the week to 5 November; however, it has now spent a record 40 straight weeks below the mark of 85. Consumer Confidence is now 0.9pts below the same week a year ago (78.7), and it is just above the 2023 weekly average of 78.1. Consumer Confidence was up in NSW, Victoria, Queensland and South Australia, but down slightly in Western Australia. Now 20% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 52% (down 4ppts) say their families are ‘worse off’ financially. Only 6% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 38% (down 2ppts) expect ‘bad times’. Meanwhile, 22% (up 4ppts) of Australians say now is a ‘good time to buy’ major household items, while 51% (down 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