Original article by Roy Morgan
Market Research Update – Page: Online : 3-Jul-24

ANZ-Roy Morgan Consumer Confidence rose 0.9pts to 81.3 in the week to 30 June, although it has now spent a record 74 straight weeks below the mark of 85. Consumer Confidence is 7.2 points above the same week a year ago (74.1), but it is still 0.6 points below the 2024 weekly average of 81.9. Consumer Confidence was unchanged in the two largest States of New South Wales and Victoria, and up slightly in Queensland, WA and SA. Now 20% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 50% (down 2ppts) say their families are ‘worse off’. Looking forward, 31% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 36% (up 1ppt) expect to be ‘worse off’. Now 8% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 37% (up 2ppts) expect ‘bad times’. Meanwhile, 25% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 46% (down 2ppts) say now is a ‘bad time to buy’ (the lowest figure for this indicator since the first week of January).

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