Original article by Roy Morgan
Market Research Update – Page: Online : 14-Aug-24

ANZ-Roy Morgan Consumer Confidence rose 2.6pts to 83.9 in the week to 11 August; however, the index has now spent a record 80 straight weeks below the mark of 85. Consumer Confidence is now 5.7 points above the same week a year ago (78.2), and 3.1 points above the 2024 weekly average of 81.8. A look at Consumer Confidence by State shows that the index increased in most States including Victoria, Queensland, Western Australia and South Australia, but it was down slightly in New South Wales. Now 24% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year (the highest figure for this indicator since November 2022), while 47% (down 4ppts) say their families are ‘worse off’ (the lowest figure for this indicator since February 2023). Looking forward, 32% (up 2ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 33% (down 1ppt) expect to be ‘worse off’. Now 9% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 34% (unchanged) expect ‘bad times’. Meanwhile, 24% (up 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 47% (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