Roy Morgan Research
December 06, 2022

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 82.7 to start December

Topic: Consumer Confidence
Finding No: 9125
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ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 82.7 this week and is now a large 26.6pts below the same week a year ago, December 4/5, 2021 (107.5). In addition, Consumer Confidence is now 6.3pts below the 2022 weekly average of 89.0.

Although the wider move in Consumer Confidence was down this week there were mixed results around the nation. Consumer Confidence increased in New South Wales and South Australia but decreased in Victoria, Queensland and Western Australia.

Across the index the two questions that had the biggest impact related to personal financial situations and were negative whereas there was an improvement in the ‘good/bad time to buy index’ which increased this week.

Current financial conditions

  • Now 21% of Australians (down 4ppts) say their families are ‘better off’ financially than this time last year compared to 47% (up 1ppt) that say their families are ‘worse off’ financially.

Future financial conditions

  • Looking forward, over a quarter of Australians, 29% (down 2ppts), expect their family to be ‘better off’ financially this time next year while 34% (down 1ppt), expect to be ‘worse off’.

Current economic conditions

  • Only 7% (up 1ppt) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to over a third, 36% (down 3ppts), that expect ‘bad times.’

Future economic conditions

  • Sentiment regarding the Australian economy in the longer term is still very weak with only 11% (down 2ppts) of Australians expecting ‘good times’ for the economy over the next five years compared to 18% (up 2ppts) expecting ‘bad times’.

Time to buy a major household item

  • When it comes to buying intentions now 26% (up 2ppts) of Australians, say now is a ‘good time to buy’ major household items, the highest figure for this indicator since early July, while nearly half of Australians, 45% (down 2ppts), say now is a ‘bad time to buy’.

ANZ Head of Australian Economics, David Plank, commented:

Block Quote

Consumer confidence softened 0.5% last week after a 5.6% gain over the previous three weeks. The decline in confidence in both ‘current’ and ‘future financial conditions’ and ‘future economic conditions’ was almost offset by greater confidence in ‘current economic conditions’ and whether ‘it is a good time to buy a major household item.’ The improved sentiment for spending on major items is usual during this time of the year in the lead-up to Christmas. This is also reflected in the ANZ-observed spending in November, which was boosted by Black Friday sales. Household inflation expectations dropped for a fourth week in a row, falling below the 6% mark for the first time since early October.

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

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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
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