Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jan-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 84.4 in the week to 14 January, and it has now spent a record 50 straight weeks below the mark of 85. Consumer Confidence is 3.3pts below the same week a year ago (87.7), but 6.4 points above the 2023 weekly average of 78.0. Consumer Confidence was down in NSW, Victoria and Queensland, but up in Western Australia and South Australia. Now 21% of Australians (up 2ppts) say their families are ‘better off’ financially than this time last year, while 52% (unchanged) 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 late January 2023), while 31% (down 1ppt) expect to be ‘worse off’ (the lowest figure for this indicator since late January 2023). Only 11% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months (the equal highest figure for this indicator since April 2022), while 31% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since late January 2023). Meanwhile, 24% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 47% (up 1ppt) say now is a ‘bad time to buy’.

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