Original article by Roy Morgan
Market Research Update – Page: Online : 21-Aug-24

ANZ-Roy Morgan Consumer Confidence fell 0.9pts to 83.0 in the week to 18 August; the index has now spent a record 81 straight weeks below the mark of 85. However, Consumer Confidence is now 7.2 points above the same week a year ago (75.8), and 2.1 points above the 2024 weekly average of 81.9. A look at Consumer Confidence by State shows that the index decreased in most States, including New South Wales, Victoria, Western Australia and South Australia, although it was up slightly in Queensland. Now 23% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 47% (unchanged) say their families are ‘worse off’. Looking forward, 32% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 32% (down 1ppt) expect to be ‘worse off’. Now 8% (down 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 33% (down 1ppt) expect ‘bad times’. Meanwhile, 20% (down 4ppts) of Australians say now is a ‘good time to buy’ major household items, while 49% (up 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