Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jan-24

ANZ-Roy Morgan Consumer Confidence fell 1.9pts to 82.5 in the week to 28 January, and it has now spent a record 52 straight weeks below the mark of 85. Consumer Confidence is 4.3pts below the same week a year ago (86.8), but still 4.5 points above the 2023 weekly average of 78.0. There were mixed results around the States, with Consumer Confidence down in New South Wales, Queensland, Western Australia and South Australia but up in Victoria. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 50% (up 2ppts) 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 32% (up 1ppt) expect to be ‘worse off’. Only 9% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 31% (down 2ppts) expect ‘bad times’. Meanwhile, 22% (down 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 48% (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