Original article by Roy Morgan
Market Research Update – Page: Online : 7-Feb-24

ANZ-Roy Morgan Consumer Confidence rose 1.3pts to 83.8 in the week to 4 February, but it has now spent a record 53 straight weeks below the mark of 85. Consumer Confidence is now 0.2pts above the same week a year ago (86.6), and 5.8 points above the 2023 weekly average of 78.0. Consumer Confidence was up in NSW, Queensland, Western Australia and South Australia, but down in Victoria. Now 21% of Australians (up 2ppts) say their families are ‘better off’ financially than this time last year, while 52% (up 2ppts) say their families are ‘worse off’. Looking forward, 33% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (up 1ppt) expect to be ‘worse off’. Now 11% (up 2ppts) 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 30% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since May 2022). Meanwhile, 23% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 49% (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