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

ANZ-Roy Morgan Consumer Confidence was unchanged at 84.4 in the week to 21 January, and it has now spent a record 51 straight weeks below the mark of 85. Consumer Confidence is 1.5pts below the same week a year ago (85.9), but 6.4 points above the 2023 weekly average of 78.0. There were mixed results around the States, with Consumer Confidence up in Western Australia and South Australia but down in New South Wales and Queensland and unchanged elsewhere. Now 21% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 48% (down 4% points) 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% (also unchanged) expect to be ‘worse off’ (the equal lowest figure for this indicator since late January 2023). Only 10% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 33% (up 2ppts) expect ‘bad times’. Meanwhile, 25% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 48% (up 1ppt) say now is a ‘bad time to buy’.

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