Original article by Roy Morgan
Market Research Update – Page: Online : 31-Jul-24

ANZ-Roy Morgan Consumer Confidence fell 1.3pts to 83.1 in the week to 28 July; the index has now spent a record 78 straight weeks below the mark of 85. However, Consumer Confidence is now 4.7 points above the same week a year ago (78.4), and 1.3 points above the 2024 weekly average of 81.8. A look at Consumer Confidence by State shows that there were decreases in most states, including New South Wales, Queensland, and South Australia; the index was unchanged in Victoria and went against the trend with an increase in Western Australia. Now 21% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 49% (unchanged) say their families are ‘worse off’. Looking forward, 32% (down 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (down 1ppt) expect to be ‘worse off’. Now 9% (down 3ppts) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 35% (up 2ppts) expect ‘bad times’. Meanwhile, 23% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 48% (up 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