ANZ-Roy Morgan Consumer Confidence was up by 1.1pts to 86.1 this week and is now 13.9pts below the same week a year ago, September 4/5, 2021 (100.0). In addition, Consumer Confidence is now 5pts below the 2022 weekly average of 91.1.
There were small improvements across the index this week with four improving slightly and only one declining. On a State-by-State basis all mainland States except NSW increased from a week ago.
Current financial conditions
- Now 23% of Australians (unchanged) say their families are ‘better off’ financially than this time last year compared to 40% (down 1ppt), that say their families are ‘worse off’ financially.
Future financial conditions
- Looking forward, fewer than a third of Australians, 30% (down 2ppts), expect their family to be ‘better off’ financially this time next year and an equal number, 30% (down 1ppt), expect to be ‘worse off’.
Current economic conditions
- Only 8% (unchanged) of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to 31% (down 1ppt), that expect ‘bad times.’
Future economic conditions
- In the longer term, just 15% (up 2ppts) of Australians are expecting ‘good times’ for the economy over the next five years compared to 18% (unchanged) expecting ‘bad times.’
Time to buy a major household item
- When it comes to buying intentions now just 21% (up 1ppt) of Australians, say now is a ‘good time to buy’ major household items while 48% (down 1ppt), say now is a ‘bad time to buy’.
ANZ Head of Australian Economics, David Plank, commented:
Consumer confidence rose 1.3% last week, to its highest level since June despite a widely expected interest rate increase by the RBA in its meeting today. Household inflation expectations rose 0.1ppt over the week to 5.4%. The confidence data by housing status shows that for people renting a home, confidence jumped last week and is now at a higher level than it was before the RBA started raising interest rates. However, for people paying off a mortgage and for those who own their home confidence is sharply lower by 19% and 13% respectively since the RBA’s first rate hike in May. The recovery in consumer confidence is encouraging, but it remains in very negative territory despite the lowest unemployment rate in decades.”
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%|