Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jul-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 78.5 in the week to 14 July; however, it has now spent a record 76 straight weeks below the mark of 85. Consumer Confidence is 5.9 points above the same week a year ago (72.6), but it is now 3.1 points below the 2024 weekly average of 81.6. Consumer Confidence was up in Victoria and Western Australia, down in Queensland and South Australia but virtually unchanged in NSW. Now 20% of Australians (up 1ppt) say their families are ‘better off’ financially than this time last year, while 53% (unchanged) say their families are ‘worse off’. Looking forward, 30% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 35% (unchanged) 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 1ppt) expect ‘bad times’. Meanwhile, 20% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 49% (down 2ppts) say now is a ‘bad time to buy’.

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