Original article by Roy Morgan
Market Research Update – Page: Online : 1-May-24

ANZ-Roy Morgan Consumer Confidence rose 0.8pts to 81.1 in the week to 28 April; however, the index has now spent a record 65 straight weeks below the mark of 85. Consumer Confidence is now only 1.3 points above the same week a year ago (79.8), and 1.6 points below the 2024 weekly average of 82.7. Consumer Confidence was up in Victoria, Western Australia and South Australia, but down slightly in New South Wales and Queensland. Now 19% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 52% (up 1ppt) say their families are ‘worse off’. Looking forward, 31% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 34% (down 1ppt) expect to be ‘worse off’. Now just 8% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months (the lowest figure for this indicator so far this year), while 33% (down 2ppts) expect ‘bad times’. Meanwhile, 21% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 47% (unchanged) say now is a ‘bad time to buy’.

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