Original article by Roy Morgan
Market Research Update – Page: Online : 22-May-24

ANZ-Roy Morgan Consumer Confidence rose 1.8pts to 82.0 in the week to 19 May. However, despite the increase the index has now spent a record 68 straight weeks below the mark of 85. Consumer Confidence is now 4.7 points above the same week a year ago (77.3), and just 0.4 points below the 2024 weekly average of 82.4. Consumer Confidence was up in New South Wales, Queensland, Western Australia and South Australia but down slightly in Victoria. Now 20% of Australians (unchanged) say their families are ‘better off’ financially than this time last year, while 50% (also unchanged) say their families are ‘worse off’. Looking forward, 33% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (unchanged) also expect to be ‘worse off’. Now 11% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 33% (unchanged) expect ‘bad times’. Meanwhile, 22% (up 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 50% (down 2ppts) say now is a ‘bad time to buy’.

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