ANZ-Roy Morgan Consumer Confidence down 0.8pts to 82.3, Inflation Expectations remain at lowest since November 2021
ANZ-Roy Morgan Consumer Confidence was down slightly by 0.8pts to 82.3 this week. Consumer Confidence has now spent a record 84 straight weeks below the mark of 85. Consumer Confidence is now 4.7 points above the same week a year ago, September 4-10, 2023 (77.6), and virtually identical to the 2024 weekly average of 81.9.
A look at Consumer Confidence by State shows mixed results with Consumer Confidence down in NSW, Victoria, Western Australia and South Australia, but up in Queensland.
Current financial conditions
- Now over a fifth of Australians, 23% (unchanged), say their families are ‘better off’ financially than this time last year compared to 47% (down 3ppts) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year are little changed this week with Australians evenly split on the question and almost a third of respondents, 32% (down 1ppt) expecting their family to be ‘better off’ financially this time next year while slightly more, 32% (up 1ppt), expect to be ‘worse off’.
Short-term economic confidence
- Fewer than one-in-ten Australians, 9% (unchanged) expect ‘good times’ for the Australian economy over the next twelve months compared to more than a third, 34% (up 1ppt), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term was unchanged this week with only 12% of Australians expecting ‘good times’ for the economy over the next five years compared to just over a fifth, 22% (up 2ppts), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were virtually unchanged this week with just a fifth of Australians, 20% (down 1ppt), saying now is a ‘good time to buy’ major household items, compared to a large plurality of 48% (down 1ppt) that say now is a ‘bad time to buy’ major household items.
ANZ Economist, Madeline Dunk, commented:
The trend in ANZ-Roy Morgan Australian Consumer Confidence has plateaued, with the four-week moving average largely steady since early August. Weekly confidence is currently 2.1pts below the July peak of 84.4pts, which marked a six-month high in the series. The Stage 3 tax cuts and cost-of-living relief do not appear to be progressively boosting households’ confidence.
We are, however, seeing a sustained improvement in inflation expectations which were stable at a 32-month low of 4.6%. Lower petrol prices may be supporting this shift. The result is likely be welcomed by the RBA, with Governor Bullock noting last week that having well-anchored inflation expectations helps to stabilise the economy, support economic growth and create more jobs.
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.
For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309
askroymorgan@roymorgan.com
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 |
