Original article by Roy Morgan
Market Research Update – Page: Online : 20-Mar-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 81.7 in the week to 17 March. However, the index has now spent a record 59 straight weeks below the mark of 85. Consumer Confidence is again 5.2 points above the same week a year ago (76.5), but 1.3 points below the 2024 weekly average of 83.0. Consumer Confidence was up in New South Wales and Queensland, but down in Victoria, Western Australia and South Australia. Now 18% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator so far this year), while 52% (down 1ppt) say their families are ‘worse off’. Looking forward, 32% (down 1 ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 32% (up 2ppts) expect to be ‘worse off’. Now 10% (down 1ppt) of Australians now expect ‘good times’ for the Australian economy over the next 12 months, while 31% (unchanged) expect ‘bad times’. Meanwhile, 20% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 49% (also unchanged) say now is a ‘bad time to buy’.

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