Original article by Roy Morgan
Market Research Update – Page: Online : 30-Oct-24

ANZ-Roy Morgan Consumer Confidence fell 1.1pts to 86.4 in the week to 27 October; however, Consumer Confidence has stayed above the mark of 85 for a second consecutive week for the first time since January 2023. Consumer Confidence is now 11.4 points above the same week a year ago (75.0), and 4 points above the 2024 weekly average of 82.4. A look at Consumer Confidence by State shows the measure driven down by falls in New South Wales, Queensland and South Australia, virtually unchanged in Victoria and up in Western Australia. Now 24% of Australians (unchanged) say their families are ‘better off’ financially than this time last year (the equal highest figure for this indicator since November 2022), while 47% (up 2ppts) say their families are ‘worse off’. Looking forward, 34% (unchanged) of Australians expect their family to be ‘better off’ financially this time next year, while 31% (up 2ppts) expect to be ‘worse off’. Now 10% (up 2ppts of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 29% (up 1ppt) expect ‘bad times’. Meanwhile, 23% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 45% (unchanged) say now is a ‘bad time to buy’ (the equal lowest figure for this indicator since October 2022).

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