ANZ-Roy Morgan Consumer Confidence jumps 4.1pts to 87.5 – highest since January 2023 after negative sentiment subsides
ANZ-Roy Morgan Consumer Confidence increased 4.1pts to 87.5 this week and has finally broken out of the sub-85 range for the first time in 90 weeks – and now at its highest since January 2023.
Consumer Confidence is now 9.3 points above the same week a year ago, October 16-22, 2023 (78.2), and 5.2 points above the 2024 weekly average of 82.3.
A look at Consumer Confidence by State shows increases in all five mainland States this week with the largest increases in New South Wales, Queensland and South Australia.
A look across the index shows most of the increase was driven by a fall in negative sentiment – all five indicators showed negative sentiment falling to multi-year lows.
Current financial conditions
- Now nearly a quarter of Australians, 24% (up 3ppts), say their families are ‘better off’ financially than this time last year compared to 45% (down 4ppts) that say their families are ‘worse off’ (the lowest figure for this indicator for well over 18 months since January 2023).
Future financial conditions
- Views on personal finances over the next year have improved this week with over a third of respondents, 34% (up 1ppt), expecting their family to be ‘better off’ financially this time next year while only 29% (down 2ppts), expect to be ‘worse off’ (the lowest figure for this indicator for well over 18 months since January 2023).
Short-term economic confidence
- Now under one-in-ten Australians, 8% (down 2ppts) expect ‘good times’ for the Australian economy over the next twelve months compared to only 28% (down 2ppts), that expect ‘bad times’ (the lowest figure for this indicator for well over two years since April 2022).
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term has improved this week with 11% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to under a fifth, 17% (down 3ppts), expecting ‘bad times’ (the lowest figure for this indicator for over 18 months since March 2023).
Time to buy a major household item
- Buying intentions improved this week with almost a quarter of Australians, 24% (up 4ppts), saying now is a ‘good time to buy’ major household items, compared to a plurality of 45% (down 3ppts) that say now is a ‘bad time to buy’ major household items (the lowest figure for this indicator for two years since October 2022).
ANZ Economist, Madeline Dunk, commented:
ANZ-Roy Morgan Australian Consumer Confidence jumped 4.1pts last week to reach its highest level since January 2023. All subindices improved, with households’ confidence in their current and future financial conditions reaching a 90-week high. The ‘time to buy a major household item’ subindex also rose to its highest level since January 2023. The boost in confidence may be linked to last week’s stronger than expected labour market data which showed employment grew 64.1k in September and the participation rate was at a record high.
Inflation expectations continued trending downwards. The measure dropped 0.1ppts last week to 4.5%, its lowest reading since late 2021. RBA Assistant Governor Sarah Hunter noted last week that the RBA are “not currently concerned that [inflation] expectations could become de-anchored in the near term”.
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 |
