Original article by Roy Morgan
Market Research Update – Page: Online : 27-Mar-24

ANZ-Roy Morgan Consumer Confidence rose 1.4pts to 83.1 in the week to 24 March. However, the index has now spent a record 60 straight weeks below the mark of 85. Consumer Confidence is now 6.5 points above the same week a year ago (76.6), and virtually identical to the 2024 weekly average of 83.0. Consumer Confidence was up in New South Wales and Victoria, down in Western Australia, and virtually unchanged in Queensland and South Australia. Now 21% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 52% (unchanged) say their families are ‘worse off’. Looking forward, 34% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (down 1ppt) expect to be ‘worse off’. Now 10% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 32% (up 1ppt) expect ‘bad times’. Meanwhile, 21% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 50% (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