Roy Morgan Research
January 31, 2023

ANZ-Roy Morgan Consumer Confidence bounces slightly, up 0.9pts to 86.8 over four-day holiday weekend for many

Topic: Consumer Confidence
Finding No: 9155
RMR Logo

ANZ-Roy Morgan Consumer Confidence was up 0.9pts to 86.8 this week, the third increase out of four weeks so far this year. However, Consumer Confidence is still a large 15pts below the same week a year ago, January 24-30, 2022 (101.8). Consumer Confidence is now 1.9pts below the 2022 weekly average of 88.7.

Driving this week’s small increase in Consumer Confidence was slightly more positive sentiment regarding whether now is a ‘good/bad time to buy major household items.

Consumer Confidence around Australia was mixed with the measure up in New South Wales, Queensland and Western Australia, but down in Victoria and South Australia.

Current financial conditions

  • Now 22% of Australians (unchanged) say their families are ‘better off’ financially than this time last year compared to 44% (down 1ppt) that say their families are ‘worse off’ financially.

Future financial conditions

  • Looking forward, over a third of Australians, 34% (unchanged), expect their family to be ‘better off’ financially this time next year while just under a third, 30% (down 1ppt), expect to be ‘worse off’.

Current economic conditions

  • Of concern, only 7% (down 2ppts) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to fewer than a third, 30% (unchanged), that expect ‘bad times’.

Future economic conditions

  • Sentiment regarding the Australian economy in the longer term is still very weak with only 14% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to 17% (down 2ppts) expecting ‘bad times’.

Time to buy a major household item

  • When it comes to buying intentions now 24% (up 1ppt) of Australians, say now is a ‘good time to buy’ major household items while 46% (down 1ppt), say now is a ‘bad time to buy’.

ANZ Senior Economist, Adelaide Timbrell, commented:

Block Quote

Consumer confidence rose by 0.9pts to 86.8 last week. After a jump at the start of the year, confidence has remained relatively stable over January, within a band of 1.8pts. While confidence remains well below the neutral level of 100, its four-week average is at its highest level since June 2022. Household inflation expectations dropped 0.6pts despite the news last week that annual inflation hit a 32-year high in Q4 2022. This is a signal that household inflation expectations remain somewhat anchored despite accelerating inflation through 2022.

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

For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309

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
Back to topBack To Top Arrow