Roy Morgan Research
June 04, 2024

ANZ-Roy Morgan Consumer Confidence virtually unchanged at 80.5 in early June

Topic: Consumer Confidence
Finding No: 9495

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 80.5 this week. Consumer Confidence has now spent a record 70 straight weeks below the mark of 85. Consumer Confidence is now 4.7 points above the same week a year ago, May 29 – June 4, 2023 (75.8), but 1.8 points below the 2024 weekly average of 82.3.

Looking around the States, there were mixed results, with Consumer Confidence up in Victoria, South Australia and Western Australia, down in Queensland and virtually unchanged in New South Wales.

There was very little movement across the index this week with all five questions remaining in negative territory for the second straight week.

Current financial conditions

  • Now just over a fifth of Australians, 21% (down 1ppt), say their families are ‘better off’ financially than this time last year compared to 51% (unchanged) that say their families are ‘worse off’.

Future financial conditions

  • Views on personal finances over the next year were unchanged this week, with 31% (unchanged) expecting their family to be ‘better off’ financially this time next year while another 35% (unchanged) are expecting to be ‘worse off’ (the equal highest figure for this indicator so far this year).

Short-term economic confidence

  • Under one-in-ten Australians, 8% (unchanged) expect ‘good times’ for the Australian economy over the next twelve months compared to just over a third, 35% (unchanged), that expect ‘bad times’.

Medium-term economic confidence

  • Net sentiment regarding the Australian economy in the longer term was virtually unchanged this week with 12% (up 1ppt) 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

  • There was little change to net buying intentions this week with just over a fifth, 21% (unchanged), of Australians saying now is a ‘good time to buy’ major household items while 49% (down 2ppts), say now is a ‘bad time to buy’.

ANZ Economist, Madeline Dunk, commented:

Block Quote

ANZ-Roy Morgan Australian Consumer Confidence edged up 0.3pts last week to move off its 2024 low. That said, the series remains very weak, averaging only 82.3pts in 2024 and 80.7pts in May. Confidence has been stuck below the neutral level of 100 for over two years. Inflation expectations rose 0.1pts to 5.0% last week, possibly in response to the stronger than expected monthly Consumer Price Index data. While this is the highest reading in a month, the series has been trending downward and is well below the November 2022 peak of 6.8%.

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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