Original article by Roy Morgan
Market Research Update – Page: Online : 15-May-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 80.2 in the week to 12 May. The index has now spent a record 67 straight weeks below the mark of 85. Consumer Confidence is now 4.3 points above the same week a year ago (75.9), but 2.3 points below the 2024 weekly average of 82.5. Consumer Confidence was down in Victoria, Western Australia and South Australia, but up slightly in New South Wales and Queensland. Now 20% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 50% (down 1ppt) say their families are ‘worse off’. Looking forward, 32% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (also unchanged) expect to be ‘worse off’. Now 9% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 33% (down 2ppts) expect ‘bad times’. Meanwhile, 19% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items (the lowest figure for this indicator so far this year), while 52% (up 3ppts) say now is a ‘bad time to buy’ (the highest figure for this indicator so far this year).

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