Original article by Roy Morgan
Market Research Update – Page: Online : 14-Feb-24

ANZ-Roy Morgan Consumer Confidence fell 1.2pts to 82.6 in the week to 11 February; it has now spent a record 54 straight weeks below the mark of 85. Consumer Confidence is now 4.5 points above the same week a year ago (78.1), but 1.2 points below the 2024 weekly average of 83.8. Analysis by housing status shows the biggest drop this week (down 5.2pts) was for people who own their own home. Consumer Confidence was up in Victoria, Western Australia and South Australia, but down in both New South Wales and Queensland. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 52% (unchanged) say their families are ‘worse off’. Looking forward, 32% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 34% (up 1ppt) expect to be ‘worse off’. Now 12% (up 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months (the highest figure for this indicator since April 2022), while 29% (down 1ppt) expect ‘bad times’ (the lowest figure for this indicator since May 2022). Meanwhile, 21% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 51% (up 2ppts) say now is a ‘bad time to buy’.

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