ANZ-Roy Morgan Consumer Confidence unchanged at 86.7 in mid-November after RBA leaves interest rates unchanged at 4.35%
ANZ-Roy Morgan Consumer Confidence was unchanged at 86.7 this week but has nevertheless stayed above the mark of 85 for a fourth consecutive week – the first time this has happened since January 2023. Consumer Confidence is now 12.4 points above the same week a year ago, November 6-12, 2023 (74.3), and 4.2 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, WA and SA, and small declines in Victoria and Queensland.
A look across the index shows small movements downward in relation to personal finances and the prospects for the Australian economy going forward, but a positive momentum that now is a ‘good time to buy’ major household items as we head into the Christmas retailing season.
Current financial conditions
- Now just over a fifth of Australians, 22% (down 1ppt), say their families are ‘better off’ financially than this time last year compared to 48% (up 1ppt) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year are virtually unchanged this week with a third of respondents, 34% (down 1ppt), expecting their family to be ‘better off’ financially this time next year while only 30% (unchanged), expect to be ‘worse off’.
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 30% (up 2ppts), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term has improved slightly this week with 14% (up 3ppts) of Australians expecting ‘good times’ for the economy over the next five years (the highest figure for this indicator for six months since April 2024) compared to under a fifth, 19% (up 2ppts), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions improved this week as we enter the Christmas retailing season with over a quarter of Australians, 26% (up 4ppts), saying now is a ‘good time to buy’ major household items (the highest figure for this indicator for well over 18 months since January 2023), compared to a plurality of 45% (down 1ppt) that say now is a ‘bad time to buy’ major household items.
ANZ Economist, Madeline Dunk, commented:
ANZ-Roy Morgan Australian Consumer Confidence was steady last week after the RBA kept rates on hold. Confidence continues to trend upwards, with the four-week average now at its highest level since January 2023. The four-week average of consumer confidence amongst outright homeowners and those paying off a mortgage reached its highest level since June 2022, which was just one month after the RBA started lifting the cash rate. Those paying off their mortgage are now more confident, on average, than renters.
The ‘time to buy a major household item’ rose 4.9pts to its highest level since January 2023. This may be linked to the beginning of a range of pre-Black Friday sales events.
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 |
