ANZ-Roy Morgan Consumer Confidence up 2.7pts to 88.4 as Black Friday/Cyber Monday sales provide boost to confidence
ANZ-Roy Morgan Consumer Confidence increased 2.7pts to 88.4 this week and has reached its highest level for 2.5 years since May 2022 – just after the last Federal Election. Consumer Confidence is now 12 points above the same week a year ago, November 27 – December 3, 2023 (76.4), and 5.6 points above the 2024 weekly average of 82.8.
A look at Consumer Confidence by State shows varied results around the country with increases in New South Wales, Queensland, and Western Australia, but decreases in Victoria and South Australia.
A look across the index shows the big driver of this week’s increase was more confidence about ‘buying conditions’ as we entered the Black Friday/Cyber Monday sales period.
Current financial conditions
- Now under a quarter of Australians, 23% (up 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 improved this week with over a third of respondents, 34% (up 2ppts), expecting their family to be ‘better off’ financially this time next year while only 29% (down 2ppts) expect to be ‘worse off’.
Short-term economic confidence
- Now under one-in-ten Australians, 8% (down 2ppts) expect ‘good times’ for the Australian economy over the next twelve months compared to 29% (down 1ppt), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term has improved this week with 12% (up 2ppts) 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
- There was a significant boost to buying intentions this week as the annual ‘Black Friday/Cyber Monday’ sales period led to an increase in buying sentiment with nearly a third of Australians, 31% (up 7ppts) saying now is a ‘good time to buy’ major household items (the highest figure for this indicator for over two years since April 2022), compared to a plurality of 42% (down 1ppt) that say now is a ‘bad time to buy’ major household items (the lowest figure for this indicator since June 2022).
ANZ Economist, Sophia Angala, commented:
ANZ-Roy Morgan Australian Consumer Confidence rose 2.7pts last week to 88.4pts, its highest level since May 2022. The rise in confidence was seen across most subindices. Households’ economic outlook over the next year declined 0.8pts, but is still within the narrow range of 77-83pts since October.
The ‘time to buy a major household item’ subindex ticked up 7.5pts as Black Friday related sales continued. This represented the subindex’s largest weekly rise since Black Friday sales in 2023, to its highest level since May 2022.
Weekly inflation expectations dropped 0.2ppt to 4.8% last week, a pullback from the rise to 5.0% the week prior. This comes after the monthly CPI indicator showed headline inflation was 2.1% in October, well within the RBA’s 2-3% target band. Though we should note that the components measured in the October monthly CPI indicator are skewed away from the main categories causing 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 |
