Original article by Roy Morgan
Market Research Update – Page: Online : 26-Jun-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 80.4 in the week to 23 June, although it has now spent a record 73 straight weeks below the mark of 85. Consumer Confidence is now 5.5 points above the same week a year ago (74.9), but is still 1.5 points below the 2024 weekly average of 81.9. A look at Consumer Confidence by State shows that there were increases in NSW and Victoria, but modest declines in Queensland, WA and SA. Now 19% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 52% (down 1ppt) say their families are ‘worse off’. Looking forward, 30% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 35% (up 3ppts) expect to be ‘worse off’. Now 8% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 35% (unchanged) expect ‘bad times’. Meanwhile, 25% (up 4ppts) of Australians say now is a ‘good time to buy’ major household items, while 48% (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