ANZ-Roy Morgan Consumer Confidence down 1.1pts to 85.7 in late November – but now six weeks above 85
ANZ-Roy Morgan Consumer Confidence was down 1.1pts to 85.7 this week but has nevertheless stayed above the mark of 85 for a sixth consecutive week – the first time this has happened for over two years since June 2022. Consumer Confidence is now 9 points above the same week a year ago, November 20-26, 2023 (76.7), and 3 points above the 2024 weekly average of 82.7.
A look at Consumer Confidence by State shows varied results around the country with small increases in NSW and SA more than offset by decreases in Victoria, Queensland, and WA.
A look across the index shows small declines in confidence about personal finances and the Australian economy over the next year were the drivers of this week’s drop.
Current financial conditions
- Now under a quarter of Australians, 22% (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 are declined this week with under a third of respondents, 32% (down 3ppts), expecting their family to be ‘better off’ financially this time next year while only 31% (up 1ppt), expect to be ‘worse off’.
Short-term economic confidence
- Now one-in-ten Australians, 10% (up 1ppt) expect ‘good times’ for the Australian economy over the next twelve months compared to 30% (up 3ppts), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term has deteriorated slightly this week with 10% (down 1ppt) 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
- As we head towards Christmas buying intentions improved slightly this week with under a quarter of Australians, 24% (unchanged), saying now is a ‘good time to buy’ major household items, compared to a plurality of 43% (down 2ppts) that say now is a ‘bad time to buy’ major household items.
ANZ Economist, Sophia Angala, commented:
ANZ-Roy Morgan Australian Consumer Confidence fell 1.1pts last week, but has remained within the relatively narrow range of 82-88 since mid-August. The decline was largely broad-based, with households feeling less confident about both the financial and economic outlook. Inflation expectations ticked up 0.3ppt to 5.0% last week, a three-month high.
‘Time to buy a major household item’ was the only subindex to rise last week, increasing 2.5pts to 81.5pts. The subindex is now at its strongest since late 2022, likely linked to 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 |
