Original article by Roy Morgan
Market Research Update – Page: Online : 16-Oct-24

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 83.4 in the week to 13 October. Consumer Confidence has now spent a record 89 straight weeks below the mark of 85; however, it is now 7 points above the same week a year ago and 1.3 points above the 2024 weekly average of 82.1. Consumer Confidence was up in New South Wales, down in Victoria, Queensland, and South Australia, and unchanged in Western Australia. Now 21% of Australians (down 2ppts) say their families are ‘better off’ financially than this time last year, while 49% (up 1ppt) say their families are ‘worse off’. Looking forward, 33% (down 3ppts) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (unchanged) expect to be ‘worse off’. Now 10% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 30% (down 2ppts) expect ‘bad times’. Meanwhile, 20% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 48% (down 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