Roy Morgan Research
April 16, 2024

ANZ-Roy Morgan Consumer Confidence up 1.6 points to 83.5 – the highest for over two months since early February

Topic: Consumer Confidence
Finding No: 9460
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ANZ-Roy Morgan Consumer Confidence increased 1.6pts to 83.5 this week to its highest level in over two months. However, despite the increase the index has now spent a record 63 straight weeks below the mark of 85. Consumer Confidence is now 6.3 points above the same week a year ago, April 10-13, 2023 (77.2), and virtually identical to the 2024 weekly average of 83.0.

Looking around the States, Consumer Confidence was up in New South Wales, Victoria and Queensland, but down in Western Australia and South Australia.

Driving the weekly increase in Consumer Confidence were improvements in confidence about personal financial situations and that now is a ‘good time to buy major household items’.

Current financial conditions

  • Now over a fifth of Australians, 22% (up 3ppts), say their families are ‘better off’ financially than this time last year compared to 50% (down 3ppts) that say their families are ‘worse off’.

Future financial conditions

  • Views on personal finances over the next year improved slightly this week with a third of Australians, 33% (up 2ppts), expecting their family to be ‘better off’ financially this time next year while another 33% (unchanged), expect to be ‘worse off’.

Short-term economic confidence

  • Just over one-in-ten Australians, 11% (up 1ppt) expect ‘good times’ for the Australian economy over the next twelve months compared to a third, 33% (up 2ppts), that expect ‘bad times’.

Medium-term economic confidence

  • Net sentiment regarding the Australian economy in the longer term improved this week with 14% (up 2ppts) of Australians expecting ‘good times’ for the economy over the next five years compared to just over a fifth, 21% (up 1ppt), expecting ‘bad times’.

Time to buy a major household item

  • Buying intentions were virtually unchanged this week with 23% (up 2ppts) of Australians saying now is a ‘good time to buy’ major household items while 47% (unchanged), say now is a ‘bad time to buy’.

ANZ Economist, Madeline Dunk, commented:

Block Quote

Despite a small lift in ANZ-Roy Morgan Consumer Confidence, the series remains stubbornly weak, averaging just 83pts in 2024. While this is higher than 2023’s 78pt average, it is still 30pts off the series’ pre-COVID (1990- 2019) average of 113pts.

Last week’s rise in confidence was driven by a lift in the financial conditions subindices, with current financial conditions increasing 5pts. Weekly inflation expectations took a small step down to 5.2%, although the four-week moving average rose to a three-month high.

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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