Original article by Roy Morgan
Market Research Update – Page: Online : 13-Jun-24

ANZ-Roy Morgan Consumer Confidence fell 3.5pts to 77.0 in the week to 9 June, and it has now spent a record 71 straight weeks below the mark of 85. However, Consumer Confidence is still 4.3 points above the same week a year ago (72.7), but 5 points below the 2024 weekly average of 82.0. Consumer Confidence dropped sharply in Victoria, WA and SA, and down in NSW, but it was unchanged in Queensland. Now 19% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 53% (up 2ppts) say their families are ‘worse off’. Looking forward, 27% (down 4ppts) of Australians expect their family to be ‘better off’ financially this time next year (the lowest figure for this indicator so far this year), while 36% (up 1ppt) expect to be ‘worse off’ (the highest figure for this indicator so far this year). Now 7% (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 39% (up 4ppts) expect ‘bad times’ (the highest figure for this indicator so far this year). Meanwhile, 22% (up 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 51% (up 2ppts) say now is a ‘bad time to buy’.

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