Roy Morgan Research
February 20, 2024

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 82.8 in mid-February

Topic: Consumer Confidence
Finding No: 9420
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ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 82.8 this week. The index has now spent a record 55 straight weeks below the mark of 85. Consumer Confidence is now 2.4 points above the same week a year ago, February 13-19, 2023 (80.4), but 0.8 points below the 2024 weekly average of 83.6.

There were mixed results around the States with Consumer Confidence up in New South Wales and Queensland, but down in Victoria, WA and SA – the opposite result compared to a week ago.

Current financial conditions

  • Now a fifth of Australians, 20% (up 1ppt) say their families are ‘better off’ financially than this time last year compared to 50% (down 2ppts) that say their families are ‘worse off’.

Future financial conditions

  • Views on personal finances over the next year are evenly balanced with a third of Australians, 33% (up 1ppt), expecting their family to be ‘better off’ financially this time next year while the same number, 33% (down 1ppt), expect to be ‘worse off’.

Short-term economic confidence

  • Just one-in-ten Australians, 10% (down 2ppts) expect ‘good times’ for the Australian economy over the next twelve months compared to nearly a third, 31% (up 2ppts), that expect ‘bad times’.

Medium-term economic confidence

  • Net sentiment regarding the Australian economy in the longer term deteriorated this week with 13% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to just over a fifth, 21% (up 3ppts), expecting ‘bad times’.

Time to buy a major household item

  • Buying intentions improved slightly this week with 23% (up 2ppts) of Australians saying now is a ‘good time to buy’ major household items while 50% (down 1ppt), say now is a ‘bad time to buy’.

ANZ Senior Economist, Adelaide Timbrell, commented:

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ANZ-Roy Morgan Australian Consumer Confidence was practically unchanged last week and is still running above all weekly results in 2023 after the 5 February. Confidence in both the short- and medium-term economic outlook declined sharply after news that the unemployment rate rose to a two-year high of 4.1% in January, but both were still above their respective 2023 averages. Confidence about household financial conditions offset the weekly drop in economic confidence despite an increase in inflation expectations.

Check out the latest results for our weekly surveys on Business Confidence, Consumer Confidence, and Voting Intention as follows:

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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