ANZ-Roy Morgan Consumer Confidence drops 3.7pts to 76.4, a pull-back after one week above 80
ANZ-Roy Morgan Consumer Confidence dropped 3.7pts to 76.4 this week, unable to register back-to-back weeks above 80 for the first time since early February 2023. Consumer Confidence is now 5.8pts below the same week a year ago, October 10-16, 2022 (82.2) and is now below the 2023 weekly average of 78.1.
Looking around the States Consumer Confidence was down in NSW, Victoria, Queensland and South Australia but bucking the trend and up slightly in Western Australia.
Driving this week’s decrease were declines across the index with the biggest falls related to views about personal finances compared to a year ago and looking forward over the next year.
Current financial conditions
- Now under a fifth of Australians, 19% (down 2ppts) say their families are ‘better off’ financially than this time last year compared to a majority of 53% (up 4ppts) that say their families are ‘worse off’.
Future financial conditions
- Looking forward, under a third of Australians, 28% (down 2ppts), expect their family to be ‘better off’ financially this time next year while 36% (up 2ppts), expect to be ‘worse off’.
Current economic conditions
- Only 6% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to well over one-third, 37% (up 1ppt), that expect ‘bad times’.
Future economic conditions
- Net sentiment regarding the Australian economy in the longer term has deteriorated slightly this week with 10% (down 3ppts) of Australians expecting ‘good times’ for the economy over the next five years compared to over a fifth, 21% (up 1ppt), expecting ‘bad times’.
Time to buy a major household item
- Sentiment regarding to buying intentions is relatively unchanged this week with 18% (down 2ppts) of Australians, who now say it is a ‘good time to buy’ major household items while an unchanged majority of 52% (unchanged), say now is a ‘bad time to buy’.
ANZ Senior Economist, Adelaide Timbrell, commented:
The ANZ-Roy Morgan Australian Consumer Confidence index fell back below 80 after a 3.7pts decline last week. The weakness in confidence was broad-based, with declines across all subindices. Among the housing cohorts, confidence plunged for those paying off their homes (-7.2pts), reversing the gains of the previous two weeks. It fell for outright homeowners as well (-3pts), while it rose slightly for those renting (+1pt). Inflation expectations rose despite heavier than usual retail sales activity in October as well as a two-year low in price pressure measures in the NAB Business Survey.
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 |
