ANZ-Roy Morgan Consumer Confidence virtually unchanged at 86.8 in mid-November – now five weeks above 85
ANZ-Roy Morgan Consumer Confidence was unchanged at 86.8 this week but has nevertheless stayed above the mark of 85 for a fifth consecutive week – the first time this has happened for over two years since October 2022. Consumer Confidence is now 12.1 points above the same week a year ago, November 13-19, 2023 (74.7), and 4.2 points above the 2024 weekly average of 82.6.
A look at Consumer Confidence by State shows varied results around the country with small increases in Victoria, Queensland and WA and small declines in New South Wales and South Australia.
A look across the index shows small positive movements related to views on personal finances were mostly negated by downward movements in regards to the economy and whether now is a ‘good or bad time to buy’ major household items.
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 47% (down 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 over a third of respondents, 35% (up 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 fewer than one-in-ten Australians, 9% (down 1pp) expect ‘good times’ for the Australian economy over the next twelve months compared to 27% (down 3ppts), 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 deteriorated slightly this week with 11% (down 3ppts) of Australians expecting ‘good times’ for the economy over the next five years compared to under a fifth, 19% (unchanged), expecting ‘bad times’.
Time to buy a major household item
- Buying intentions were down slightly this week with under a quarter of Australians, 24% (down 2ppts), 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.
ANZ Economist, Madeline Dunk, commented:
ANZ-Roy Morgan Australian Consumer Confidence continues to move within a narrow range, with the series rising 0.1pts last week. Optimism about the coming year has been rising since July. Household confidence in the 12-month economic outlook has risen 10.7pts since early July (the strongest gain in the subindices over the second half of the year), while confidence regarding personal finances over the next 12 months gained 8.2pts since July.
Inflation expectations eased 0.2ppt to 4.7%, possibly in response to last week’s Q3 Wage Price Index report, which showed a broad-based deceleration in wage growth. The data are likely to give the RBA more confidence that wage growth is returning to a rate that is consistent with its target of 2-3% inflation.
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 |
