Original article by Roy Morgan
Market Research Update – Page: Online : 9-Oct-24

ANZ-Roy Morgan Consumer Confidence rose 1.5pts to 83.5 in the week to 6 October. Despite the increase, Consumer Confidence has now spent a record 88 straight weeks below the mark of 85. However, it is now 3.4 points above the same week a year ago (80.1), and in line with the 2024 weekly average of 82.1. Consumer Confidence was up in New South Wales, Queensland and Western Australia, unchanged in Victoria, and down in South Australia. Now 23% of Australians (up 3ppts) say their families are ‘better off’ financially than this time last year, while 48% (down 5ppts) say their families are ‘worse off’. Looking forward, 36% (up 4ppts) of Australians expect their family to be ‘better off’ financially this time next year (the highest figure for this indicator since March 2022), while 31% (unchanged) expect to be ‘worse off’. Now 9% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 32% (up 1ppt) expect ‘bad times’. Meanwhile, 20% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 49% (also 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