ANZ-Roy Morgan Consumer Confidence up 3.2pts to 78.2 – as perceptions of personal finances improve
ANZ-Roy Morgan Consumer Confidence increased 3.2pts to 78.2 this week. Despite this week’s improvement the index has now spent a record 24 straight weeks below the mark of 80. Consumer Confidence is now 6.2pts below the same week a year ago, August 8-14, 2022 (84.2) and in line with the 2023 weekly average of 78.2.
Looking around the States, Consumer Confidence increased in Victoria, Queensland, Western Australia and South Australia but was down slightly in New South Wales.
Driving the index up this week were increases in sentiment regarding personal finances both compared to a year ago and expectations over the next year – this reverses the trend of a week ago.
Current financial conditions
- Now just over a fifth of Australians, 21% (up 4ppts) say their families are ‘better off’ financially than this time last year compared to a majority of 53% (down 4ppts) that say their families are ‘worse off’ financially.
Future financial conditions
- Looking forward, almost a third of Australians, 31% (up 3ppts), expect their family to be ‘better off’ financially this time next year while 34% (down 4ppts), expect to be ‘worse off’.
Current economic conditions
- Only 7% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to over a third, 36% (down 2ppts), that expect ‘bad times’.
Future economic conditions
- Sentiment regarding the Australian economy in the longer term is unchanged this week with only 11% (unchanged) of Australians expect ‘good times’ for the economy over the next five years compared to just under a fifth, 19% (unchanged), expecting ‘bad times’.
Time to buy a major household item
- Sentiment regarding to buying intentions is mixed this week with 20% (up 1ppt) of Australians, who now say it is a ‘good time to buy’ major household items while a growing majority of 57% (up 3ppts), say now is a ‘bad time to buy’.
ANZ Senior Economist, Adelaide Timbrell, commented:
ANZ-Roy Morgan Australian Consumer Confidence jumped up last week, nearly offsetting the fall from the week before. While still very weak, the four-week moving average for consumer confidence is at its highest since May. The four-week average of consumer confidence is rising for all housing cohorts, perhaps representing some green shoots in confidence as the cash rate stabilises, the labour market stays resilient and inflation falls. Indeed, inflation expectations fell to 5.2%, the lowest result since mid-May.
Check out the latest results for our weekly surveys on Business Confidence, Consumer Confidence, and Voting Intention as follows:
Roy Morgan Business Confidence Statistics
ANZ – Roy Morgan Consumer Confidence Statistics
Federal Voting – Government Confidence Rating
Related Research Reports
The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more
Consumer Confidence – Monthly Detailed Report in Australia.
Business Confidence – Monthly Detailed Report in Australia.
Consumer Banking Satisfaction - Monthly Report in Australia.
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Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
| Sample Size | Percentage Estimate |
| 40% – 60% | 25% or 75% | 10% or 90% | 5% or 95% | |
| 1,000 | ±3.0 | ±2.7 | ±1.9 | ±1.3 |
| 5,000 | ±1.4 | ±1.2 | ±0.8 | ±0.6 |
| 7,500 | ±1.1 | ±1.0 | ±0.7 | ±0.5 |
| 10,000 | ±1.0 | ±0.9 | ±0.6 | ±0.4 |
| 20,000 | ±0.7 | ±0.6 | ±0.4 | ±0.3 |
| 50,000 | ±0.4 | ±0.4 | ±0.3 | ±0.2 |
