Roy Morgan Update September 17, 2024: ALP Support unchanged, Consumer Confidence & Bunnings Most Trusted Brand

In this week's update, we present the latest data on Primary Voting Intention, Consumer Confidence & Most Trusted Brands.

Welcome to the Roy Morgan Weekly Update.

With little change on the key weekly indicators this week, the latest Roy Morgan survey shows the ALP on 50.5% just ahead of the Coalition on 49.5% on a two-party preferred basis.

If a Federal Election were held now, the result would be ‘too close to call’ and either major party, the ALP or Coalition, would require the support of minor parties and independents to form a minority government.

The primary vote of both major parties was up this week – mainly at the expense of the Greens. ALP primary vote increased 0.5% to 30.5% while Coalition support increased 1% to 37.5%.

Support for the Greens dropped 2% to 12.5% to its lowest since early August, while One Nation was down 0.5% at 5.5%.

The drop in support for the Greens came after

• Max Chandler-Mather vocally supported the CFMEU at a strike demonstration, and
• violent protests in Melbourne surrounding the Land Forces weapons exhibition.

Greens Senator from New South Wales, David Shoebridge, spoke at the protests which led to shocking scenes with dozens of protesters arrested for assault, obstruction or hindering, and over two dozen police officers requiring medical care.

This week support for Other Parties increased 0.5% to 4% and support for Independents was up 0.5% to 10%.

There was better news for the government on other key indicators with small improvements for both.

Government Confidence (whether people think the country is going in the right or wrong direction) increased 1.5 points to 74 – but is still well below the neutral level of 100.

A majority of 55% of Australians say the country is going in the wrong direction, while only 29% say the country is heading in the right direction.

ANZ-Roy Morgan Consumer Confidence was up 1.8 points to 84.1 – its highest level since mid-July.

However, despite the improvement, looking longer-term Consumer Confidence has now spent a record 85 weeks (since February 2023) below the level of 85 – indicating an economy close to recession.

This week Inflation Expectations were up 0.2% to 4.8%. So, the ANZ-Roy Morgan Inflation Expectations indicator shows Australians expect annual inflation to be 4.8% per annum over the next two years.

However, the four-week moving average was at 4.7%, the equal lowest it has been for nearly three years – since October 2021.

This week Roy Morgan released the highly anticipated latest quarterly survey results on Australia’s most trusted and distrusted brands– And for a third straight quarter – Bunnings is Australia’s most trusted brand.

Bunnings is followed by ALDI and Kmart second and third place. And filling out the top five are Toyota (in 4th), now just ahead of Apple (in 5th). The remainder of the top 10 was unchanged.

Within the top 20, several brands improved their rankings. Bendigo Bank, was up two places to 11^th most trusted brand, and Nike, up six places to 16^th most trusted brand, and entering the top 20 for the first time.