ANZ-Roy Morgan Consumer Confidence unchanged at 86.5 in early November – before today’s RBA meeting on interest rates
ANZ-Roy Morgan Consumer Confidence was unchanged at 86.5 this week but has nevertheless stayed above the mark of 85 for a third consecutive week – the first time this has happened since January 2023. Consumer Confidence is now 8.7 points above the same week a year ago, October 30 – November 5, 2023 (77.8), and 4 points above the 2024 weekly average of 82.5.
A look at Consumer Confidence by State shows varied results around the country with small increases in NSW, Victoria, and SA, an unchanged result in Queensland and a small decline in WA.
A look across the index shows small movements largely cancelling each other out this week with slight positive movement on personal finances neutralised by a small decline in current buying sentiment.
Current financial conditions
- Now nearly a quarter of Australians, 23% (down 1ppt), say their families are ‘better off’ financially than this time last year compared to 47% (unchanged) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year have improved this week with over a third of respondents, 35% (up 1ppt), expecting their family to be ‘better off’ financially this time next year while only 30% (down 1ppt).
Short-term economic confidence
- Now one-in-ten Australians, 10% (unchanged) expect ‘good times’ for the Australian economy over the next twelve months compared to 28% (down 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, 17% (down 1ppt), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were virtually unchanged this week with almost a quarter of Australians, 22% (down 1ppt), saying now is a ‘good time to buy’ major household items, compared to a plurality of 46% (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 continues to slowly trend upwards. The series has risen 7.5pts since early July, with the biggest gains in household confidence in current financial conditions and the short-term economic outlook. Both these measures have lifted 10.3pts since early July. Inflation expectations continue to ease. While the weekly figure was stable last week following the Q3 inflation data, the four-week moving average fell to 4.6%. This is the lowest reading since September 2021.
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 |
