Original article by Roy Morgan
Market Research Update – Page: Online : 4-Sep-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 83.1 in the week to 1 September; the index has now spent a record 83 straight weeks below the mark of 85. However, Consumer Confidence is now 4.4 points above the same week a year ago (78.7), and it is now 1.2 points above the 2024 weekly average of 81.9. A look at Consumer Confidence by State shows mixed results, with Consumer Confidence up in NSW and SA, down in Queensland and Western Australia, and virtually unchanged in Victoria. Now 23% of Australians (up 2ppts) say their families are ‘better off’ financially than this time last year, while 50% (up 2ppts) say their families are ‘worse off’. Looking forward, 33% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (down 2ppts) expect to be ‘worse off’. Now 9% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 33% (unchanged) expect ‘bad times’. Now 21% (down 2ppts) of Australians say now is a ‘good time to buy’ major household items, while 49% (unchanged) say now is a ‘bad time to buy’. Meanwhile, Inflation expectations eased 0.2ppt to 4.6% this week, its lowest reading since late 2021.

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