ANZ-Roy Morgan Consumer Confidence increased 1.8pts to 82.0 after small ‘Budget Boost’ – ‘good time to buy major household items’ increased 3% to 22%
ANZ-Roy Morgan Consumer Confidence increased 1.8pts to 82.0 this week. However, despite the increase the index has now spent a record 68 straight weeks below the mark of 85. Consumer Confidence is now 4.7 points above the same week a year ago, May 15-21, 2023 (77.3), and just 0.4 points below the 2024 weekly average of 82.4.
Looking around the States, there were mixed results, with Consumer Confidence up in New South Wales, Queensland, Western Australia and South Australia but down slightly in Victoria.
Following the Federal Budget was a strengthening in the net result of ‘good/bad time to buy major household items’ with the net rating increasing 5% points to a still very low -28% that powered the increase in the overall Consumer Confidence index.
Current financial conditions
- Now a fifth of Australians, 20% (unchanged), say their families are ‘better off’ financially than this time last year compared to 50% (unchanged) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year were little changed, and evenly split this week, with 33% (up 1ppt) expecting their family to be ‘better off’ financially this time next year while another 33% (unchanged) are expecting to be ‘worse off’.
Short-term economic confidence
- Just over one-in-ten Australians, 11% (up 2ppts) expect ‘good times’ for the Australian economy over the next twelve months compared to a third, 33% (unchanged), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term also improved slightly this week with 12% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to over a fifth, 22% (unchanged), expecting ‘bad times’.
Time to buy a major household item
- An improvement in net buying intentions drove this week’s increase in Consumer Confidence with over a fifth, 22% (up 3ppts), of Australians saying now is a ‘good time to buy’ major household items while 50% (down 2ppts), say now is a ‘bad time to buy’ – a net improvement of 5% points.
ANZ Economist, Madeline Dunk, commented:
ANZ-Roy Morgan Australian Consumer Confidence rose 1.8pts last week, but the series remains at very low levels. The lift was driven by a 3.9pt rise in confidence amongst renters. The boost could be linked to measures announced in the Budget such as the 10% rise in Commonwealth Rent Assistance. Across the other housing cohorts, there was a small lift in confidence amongst households paying off their homes, while confidence declined for those who own their homes outright. The ‘future financial conditions’ subindex rose above its neutral level of 100 for the first time in seven weeks. Meanwhile, inflation expectations remained stable at their 2024 low of 4.8%.
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 |
