Original article by Roy Morgan
Market Research Update – Page: Online : 21-Feb-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 82.8 in the week to 18 February; it has now spent a record 55 straight weeks below the mark of 85. Consumer Confidence is now 2.4 points above the same week a year ago (80.4), but 0.8 points below the 2024 weekly average of 83.6. Consumer Confidence was up in New South Wales and Queensland, but down in Victoria, WA and SA – the opposite result compared to a week ago. Now 20% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 50% (down 2ppts) say their families are ‘worse off’. Looking forward, 33% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (down 1ppt) expect to be ‘worse off’. Now 10% (down 2ppts) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 31% (up 2ppts) expect ‘bad times’. Meanwhile, 23% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 50% (down 1ppt) say now is a ‘bad time to buy’.

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