Original article by Roy Morgan
Market Research Update – Page: Online : 10-Jan-24

ANZ-Roy Morgan Consumer Confidence rose 3pts to 84.8 in the first week of 2024, taking the index to its highest since early February 2023. Consumer Confidence started the year 8.4pts higher than a month ago and is now nearly 7pts above the 2023 weekly average of 78.0. However, Consumer Confidence has now spent a record 47 straight weeks below the mark of 85, and it is 2.6pts lower than the same week a year ago (87.4). Now 19% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 52% (up 1ppt) say their families are ‘worse off’. Looking forward, 34% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year (the equal highest figure for this indicator since January 2023), while 32% (down 1ppt) expect to be ‘worse off’ (the lowest figure for this indicator since January 2023). Only 11% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since May 2022), while 32% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since January 2023). Meanwhile, 25% (up 4ppts) of Australians say now is a ‘good time to buy’ major household items (the highest figure for this indicator since January 2023), while 46% (down 5ppts) say now is a ‘bad time to buy’ (the lowest figure for this indicator since January 2023).

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