Original article by Roy Morgan
Market Research Update – Page: Online : 28-Feb-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 83.2 in the week to 25 February; the index has now spent a record 56 straight weeks below the mark of 85. Consumer Confidence is now 3.2 points above the same week a year ago (80.0), but 0.4 points below the 2024 weekly average of 83.6. Consumer Confidence was up in Victoria and Western Australia, down in Queensland and South Australia, and virtually unchanged in New South Wales. Now 20% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 53% (up 3ppts) say their families are ‘worse off’. Looking forward, 33% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 32% (down 1ppt) expect to be ‘worse off’. Now 10% (unchanged) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 29% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (down 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 48% (down 2ppts) say now is a ‘bad time to buy’.

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