ANZ-Roy Morgan Consumer Confidence up 0.8pts to 84.9 to the highest since January 2023 – before the RBA meeting
ANZ-Roy Morgan Consumer Confidence was up 0.8pts to 84.9 this week. However, despite the increase Consumer Confidence has now spent a record 86 straight weeks below the mark of 85. Consumer Confidence is now 8.5 points above the same week a year ago, September 18-24, 2023 (76.4), and now 2.8pts above the 2024 weekly average of 82.1.
A look at Consumer Confidence by State shows mixed results with Consumer Confidence up in New South Wales and South Australia, unchanged in Victoria and Queensland, and down in WA.
Current financial conditions
- Now over a fifth of Australians, 23% (up 1ppt), say their families are ‘better off’ financially than this time last year compared to 48% (unchanged) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year are virtually unchanged this week with Australians now just in positive territory with just over a third of respondents, 34% (up 1ppt), expecting their family to be ‘better off’ financially this time next year while 31% (up 1ppt), expect to be ‘worse off’.
Short-term economic confidence
- Now just one-in-ten Australians, 10% (up 1ppt) expect ‘good times’ for the Australian economy over the next twelve months compared to fewer than a third, 31% (down 1ppt), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term improved slightly this week with 13% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to just under a fifth, 19% (down 2ppts), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were little changed this week with over a fifth of Australians, 22% (down 1ppt), saying now is a ‘good time to buy’ major household items, compared to a large plurality of 49% (up 1ppt) that say now is a ‘bad time to buy’ major household items.
ANZ Economist, Madeline Dunk, commented:
ANZ-Roy Morgan Australian Consumer Confidence increased 0.8pts last week, taking the series to its highest level since January 2023. Confidence is sitting just below 85pts, a ceiling it has been unable to break through for 19 months. In the 1990s recession confidence stayed below 85pts for nine months.
This week’s rise in confidence was driven by an improvement in household confidence in the economic outlook. Confidence about the next 12 months rose 2.7pts and confidence about the next five years lifted 3.0pts. Both were at their highest levels since Q1 this year. This may be related to last week’s stronger-than-expected labour market data, which showed employment had increased by more than 143,000 in three months, with participation at a record high. This may be easing fear of job losses. We expect the labour market to remain resilient and see only a modest lift in the unemployment rate to 4.4%.
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 |
