ANZ-Roy Morgan Consumer Confidence virtually unchanged at 78.5 in mid-July but long-term views on the economy drop to lowest so far this year
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 78.5 this week and the index has now spent a record 76 straight weeks below the mark of 85. Consumer Confidence is a large 5.9 points above the same week a year ago, July 10-16, 2023 (72.6), but is now 3.1 points below the 2024 weekly average of 81.6.
A look at Consumer Confidence by State shows there were mixed results this week with the index up in Victoria and Western Australia, down in Queensland and South Australia but virtually unchanged in NSW.
There was little movement across the index this week but there were slight declines in long-term views on the Australian economy which slipped to its most negative reading so far this year.
Current financial conditions
- Now a fifth of Australians, 20% (up 1ppt), say their families are ‘better off’ financially than this time last year compared to 53% (unchanged) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year were virtually unchanged this week, with under a third of Australians, 30% (down 1ppt) expecting their family to be ‘better off’ financially this time next year while another 35% (unchanged) are expecting to be ‘worse off’.
Short-term economic confidence
- In addition, only 8% (unchanged) expect ‘good times’ for the Australian economy over the next twelve months compared to 37% (up 1ppt), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term has slipped to its lowest level so far this year with only 10% (down 2ppts) of Australians expecting ‘good times’ for the economy over the next five years (the lowest reading for this indicator since November 2023 – just after the last interest rate increase) compared to just over a fifth, 22% (up 1ppt), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were largely stable this week with a fifth of Australians, 20% (down 1ppt) saying now is a ‘good time to buy’ major household items compared to a large plurality of 49% (down 2ppts) that say now is a ‘bad time to buy’ major household items.
ANZ Economist, Madeline Dunk, commented:
The softness in ANZ-Roy Morgan Australian Consumer Confidence continued last week, with the index declining 0.5pts to 78.5pts. This was the second weakest result since early December 2023. Confidence is currently 36pts lower than its pre-COVID five-year (2015–19) average.
While all subindices remain well below their pre-COVID five-year average, the time to buy a major household item subindex is particularly weak, down 62pts. Households are also very concerned about their current financial position, with the subindex down 41pts relative to the pre-COVID five-year average.
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 |
