Original article by Roy Morgan
Market Research Update – Page: Online : 28-Aug-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 82.6 in the week to 25 August; however, the index has now spent a record 82 straight weeks below the mark of 85. Consumer Confidence is now 4.5 points above the same week a year ago (78.1), and 0.7 points above the 2024 weekly average of 81.9. Consumer Confidence is up in Victoria and Western Australia, but down in New South Wales, Queensland and South Australia. Now 21% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 48% (up 1ppt) 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 33% (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 33% (also unchanged) expect ‘bad times’. Meanwhile, 23% (up 3ppts) of Australians say now is a ‘good time to buy’ major household items, while 49% (unchanged) say now is a ‘bad time to buy’.

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