Roy Morgan Research
June 18, 2024

ANZ-Roy Morgan Consumer Confidence recovers 3.3pts to 80.3 following the King’s Birthday long weekend

Topic: Consumer Confidence
Finding No: 9505

ANZ-Roy Morgan Consumer Confidence increased 3.3pts to 80.3 following the King’s Birthday long weekend. However, despite the increase Consumer Confidence has now spent a record 72 straight weeks below the mark of 85. Consumer Confidence is now 7.9 points above the same week a year ago, June 12-18, 2023 (72.4), but is still 1.7 points below the 2024 weekly average of 82.0.

A look at Consumer Confidence by State shows that there were increases in most States including NSW, Queensland, WA and SA but that the measure was virtually unchanged in Victoria.

The improvement this week were driven by views on personal finances and the performance of the Australian economy over the next 12 months which both recovered from declines a week ago.

Current financial conditions

  • Now just under a fifth of Australians, 18% (down 1ppt), say their families are ‘better off’ financially than this time last year compared to 53% (unchanged) that say their families are ‘worse off’.

Future financial conditions

  • Views on personal finances over the next year improved this week, with a third of Australians, 33% (up 6ppts) expecting their family to be ‘better off’ financially this time next year while another 32% (down 4ppts) are expecting to be ‘worse off’.

Short-term economic confidence

  • In addition, only 9% (up 2ppts) expect ‘good times’ for the Australian economy over the next twelve months compared to 35% (down 4ppts), 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 2ppts) of Australians expecting ‘good times’ for the economy over the next five years compared to just over a fifth, 22% (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% (down 1ppt), 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, Catherine Birch, commented:

Block Quote

ANZ-Roy Morgan Australian Consumer Confidence rose back above 80 last week, nearly reversing the previous week’s drop. Confidence in both personal finances and economic conditions over the next 12 months drove the rebound, jumping 9.9pts and 5.4pts, respectively. The former hit a 12-week high following last week’s 6-month low. Among the housing cohorts, confidence rose for those who own their homes outright and for those paying off their homes, while it fell for the renters. Confidence among renters fell below those with mortgages for the first time in six weeks.

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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