ANZ-Roy Morgan Consumer Confidence drops 0.9 points to 81.9 as Australians less confident about personal finances
ANZ-Roy Morgan Consumer Confidence was down 0.9pts to 81.9 this week. The index has now spent a record 62 straight weeks below the mark of 85. Consumer Confidence is now 2.6 points above the same week a year ago, April 3-9, 2023 (79.3), and just 1 point below the 2024 weekly average of 82.9.
Looking around the States, Consumer Confidence was down in Victoria, but up in New South Wales, Queensland, South Australia and Western Australia.
Driving the weekly decline in Consumer Confidence were drops in confidence about personal financial situations and the performance of the Australian economy going forward.
ANZ-Roy Morgan Australian Consumer Confidence declined for a second consecutive week. The current economic environment has kept consumer confidence below 85pts for a record 62 weeks – 23 weeks longer than during the 1990s recession.
Notably, inflation expectations rose to the highest level for the year. This may help explain the increased pessimism in the economic and financial outlook. This is the first time since November 2022 (when inflation expectations peaked at 6.8%) that inflation expectations have increased for three weeks in a row. Higher petrol prices may be contributing to this rise in inflation expectations.
Check out the latest results for our weekly surveys on Business Confidence, Consumer Confidence, and Voting Intention as follows:
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
