Roy Morgan Research
March 12, 2024

ANZ-Roy Morgan Consumer Confidence up 1.2pts to 82.2

Topic: Consumer Confidence
Finding No: 9435
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ANZ-Roy Morgan Consumer Confidence was up 1.2 points to 82.2 this week. The index has now spent a record 58 straight weeks below the mark of 85. Consumer Confidence is now 5.2 points above the same week a year ago, March 6-12, 2023 (77.0), but 1 point below the 2024 weekly average of 83.2.

Looking around the States, Consumer Confidence improved sharply in Western Australia, but was virtually unchanged in New South Wales, Victoria, Queensland and South Australia.

Current financial conditions

  • Now under a fifth of Australians, 19% (unchanged) say their families are ‘better off’ financially than this time last year compared to a majority of 53% (down 2ppts) that say their families are ‘worse off’.

Future financial conditions

  • Views on personal finances over the next year are in positive territory with a third of Australians, 33% (unchanged), expecting their family to be ‘better off’ financially this time next year while 30% (down 4ppts), expect to be ‘worse off’.

Short-term economic confidence

  • Just over one-in-ten Australians, 11% (unchanged) expect ‘good times’ for the Australian economy over the next twelve months compared to nearly a third, 31% (down 1ppt), that expect ‘bad times’.

Medium-term economic confidence

  • Net sentiment regarding the Australian economy in the longer term deteriorated slightly this week with 11% (down 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to a fifth, 20% (unchanged), expecting ‘bad times’.

Time to buy a major household item

  • Buying intentions were virtually unchanged this week with 20% (down 1ppt) of Australians saying now is a ‘good time to buy’ major household items while 49% (down 1ppt), say now is a ‘bad time to buy’.

ANZ Senior Economist, Adelaide Timbrell, commented:

Block Quote

ANZ-Roy Morgan Australian Consumer Confidence rose slightly over the week but is still broadly trending sideways. Confidence in future finances, which measure how many participants believe their own finances will be better in a year from now, was at its highest level since January 2023. It also hit above its neutral 100 level, meaning more optimistic participants than pessimistic ones. Inflation expectations have settled lower this year, signalling confidence in the battle against inflation. Economic confidence fell after the weak GDP result out last week (GDP was up 0.2% q/q or 1.5% y/y). We expect GDP to be soft for the first half of the year before tax cuts, other fiscal stimulus and falling inflation help household incomes and spending.

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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