ANZ-Roy Morgan Consumer Confidence virtually unchanged at 83.1 in early September; Inflation Expectations drop to lowest weekly figure since November 2021
ANZ-Roy Morgan Consumer Confidence was virtually unchanged for a third straight week at 83.1 this week. Consumer Confidence has now spent a record 83 straight weeks below the mark of 85. Consumer Confidence is now 4.4 points above the same week a year ago, August 28 – September 3, 2023 (78.7), and is now 1.2 points above the 2024 weekly average of 81.9.
A look at Consumer Confidence by State shows mixed results with Consumer Confidence up in NSW and SA, down in Queensland and Western Australia, and virtually unchanged in Victoria.
Current financial conditions
- Now over a fifth of Australians, 23% (up 2ppts), say their families are ‘better off’ financially than this time last year compared to 50% (up 2ppts) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year have improved this week with a third of respondents, 33% (up 1ppt) of Australians expecting their family to be ‘better off’ financially this time next year while slightly fewer, 31% (down 2ppts), are expecting to be ‘worse off’.
Short-term economic confidence
- Fewer than one-in-ten Australians, 9% (up 1ppt) 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 was virtually unchanged this week with only 12% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to a fifth, 20% (up 1ppt), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions improved this week with over a fifth of Australians, 21% (down 2ppts), saying now is a ‘good time to buy’ major household items, compared to a large plurality of 49% (unchanged) that say now is a ‘bad time to buy’ major household items.
ANZ Economist, Madeline Dunk, commented:
ANZ-Roy Morgan Australian Consumer Confidence has moved within a tight range over the past four weeks, with the series retaining most of the gains seen in late July and early August.
Households’ confidence in their future financial situation jumped to a five month high last week and is now back in ‘positive’ territory. This is the only subindex currently sitting above 100pts. Inflation expectations also eased 0.2ppt to 4.6%, its lowest reading since late 2021. The shift in these indicators may be linked to last week’s monthly inflation data, which showed a fall in both headline and trimmed mean inflation. After accelerating earlier in 2024, inflation appears to be back on the path to target.
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 |
