ANZ-Roy Morgan Consumer Confidence up 1.8pts to 78.2
ANZ-Roy Morgan Consumer Confidence increased 1.8pts to 78.2 this week, and has now spent 38 straight weeks below the mark of 85 – the longest streak at this level since 1990-91. Consumer Confidence is now 2.9pts below the same week a year ago, October 17-23, 2022 (81.1) and is now almost level with the 2023 weekly average of 78.1.
Looking around the States Consumer Confidence improved in NSW, Victoria, South Australia and Western Australia but decreased slightly in Queensland.
Driving this week’s increase were improvements in views of the Australian economy’s performance over the next year and next five years.
Current financial conditions
- Now under a fifth of Australians, 18% (down 1ppt) say their families are ‘better off’ financially than this time last year compared to a majority of 53% (unchanged) that say their families are ‘worse off’.
Future financial conditions
- Looking forward, under a third of Australians, 29% (up 1ppt), expect their family to be ‘better off’ financially this time next year while 36% (unchanged), expect to be ‘worse off’.
Current economic conditions
- Only 8% (up 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to over one-third, 36% (down 1ppt), that expect ‘bad times’.
Future economic conditions
- Net sentiment regarding the Australian economy in the longer term has improved slightly this week with 11% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to almost a fifth, 19% (down 2ppts), expecting ‘bad times’.
Time to buy a major household item
- Sentiment regarding to buying intentions is relatively unchanged this week with 19% (up 1ppt) of Australians, who now say it is a ‘good time to buy’ major household items while a bare majority of 50% (down 2ppts), say now is a ‘bad time to buy’.
ANZ Senior Economist, Adelaide Timbrell, commented:
The ANZ-Roy Morgan Australian Consumer Confidence index rose last week but remained below 80. The “time to buy a household item” index was at its strongest since early June, perhaps due to elevated discounting in the retail sector. Inflation expectations jumped to their highest level since June amid elevated petrol prices, ahead of what we think will be a strong CPI print (+1.1% q/q). Confidence rose among outright homeowners (+2.3pts) and those paying off their homes (+3.6pts) but fell among the renters (-1.7pts).
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 |
