Original article by Roy Morgan
Market Research Update – Page: Online : 6-Nov-24

ANZ-Roy Morgan Consumer Confidence was unchanged at 86.5 in the week to 3 November; however, it has stayed above the mark of 85 for a third consecutive week for the first time since January 2023. Consumer Confidence is now 8.7 points above the same week a year ago (77.8), and 4 points above the 2024 weekly average of 82.5. A look at Consumer Confidence by State shows varied results around the country with small increases in NSW, Victoria, and SA, an unchanged result in Queensland and a small decline in WA. Now 23% of Australians (down 1ppt) say their families are ‘better off’ financially than this time last year, while 47% (unchanged) say their families are ‘worse off’. Looking forward, 35% (up 1ppt) of Australians expect their family to be ‘better off’ financially this time next year, while 30% (down 1ppt) expect to be ‘worse off’. Now 10% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next 12 months, while 28% (down 1ppt) expect ‘bad times’. Meanwhile, 22% (down 1ppt) of Australians say now is a ‘good time to buy’ major household items, while 46% (up 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