Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jun-24

ANZ-Roy Morgan Consumer Confidence rose 3.3pts to 80.3 in the week to 16 June, although it has now spent a record 72 straight weeks below the mark of 85. Consumer Confidence is now 7.9 points above the same week a year ago (72.4), but it is still 1.7 points below the 2024 weekly average of 82.0. Consumer Confidence has increased in most States, but the measure is virtually unchanged in Victoria. Now 18% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 53% (unchanged) say their families are ‘worse off’. Looking forward, 33% (up 6ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 32% (down 4ppts) expect to be ‘worse off’. Now 9% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 35% (down 4ppts) expect ‘bad times’. Meanwhile, 21% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 50% (down 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