ANZ-Roy Morgan Consumer Confidence eases 1.1pts to 86.4 in late October – second week in a row above the mark of 85
ANZ-Roy Morgan Consumer Confidence dropped 1.1pts to 86.4 this week but has nevertheless stayed above the mark of 85 for a second consecutive week – the first time this has happened since January 2023. Consumer Confidence is now 11.4 points above the same week a year ago, October 23-29, 2023 (75.0), and 4 points above the 2024 weekly average of 82.4.
A look at Consumer Confidence by State shows the measure driven down by falls in New South Wales, Queensland and South Australia, virtually unchanged in Victoria and up in Western Australia.
A look across the index shows most of the decrease was driven by small increases in worry about personal finances and the Australian economic situation going forward.
Current financial conditions
- Now nearly a quarter of Australians, 24% (unchanged), say their families are ‘better off’ financially than this time last year (the equal highest figure for this indicator for nearly two years since November 2022) compared to 47% (up 2ppts) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year have deteriorated slightly this week with over a third of respondents, 34% (unchanged), expecting their family to be ‘better off’ financially this time next year while only 31% (up 2ppts).
Short-term economic confidence
- Now one-in-ten Australians, 10% (up 2ppts) expect ‘good times’ for the Australian economy over the next twelve months compared to 29% (up 1ppt), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term is virtually unchanged this week with 11% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to under a fifth, 18% (up 1ppt), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were virtually unchanged this week with almost a quarter of Australians, 23% (down 1ppt), saying now is a ‘good time to buy’ major household items, compared to a plurality of 45% (unchanged) that say now is a ‘bad time to buy’ major household items (the equal lowest figure for this indicator for two years since October 2022).
ANZ Economist, Madeline Dunk, commented:
Despite a slight pullback last week, ANZ-Roy Morgan Australian Consumer Confidence is up 3.0pts over the past fortnight. The series’ four-week moving average is at a 20-month high. On a four-week moving average basis, household confidence in current and future financial conditions is at its highest level since Q1 2023. The future financial conditions metric remains the only sub-index sitting in positive territory (above 100).
Since the end of June, ANZ-Roy Morgan Australian Consumer Confidence has increased most for renters, followed by those who own their home outright. While households paying off a mortgage also reported an increase in confidence, it has been more subdued than the other two groups. The four-week moving average of confidence amongst renters is at its highest level since March 2023.
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 |
