ANZ-Roy Morgan Consumer Confidence up 1.2pts to 82.2
ANZ-Roy Morgan Consumer Confidence was up 1.2 points to 82.2 this week. The index has now spent a record 58 straight weeks below the mark of 85. Consumer Confidence is now 5.2 points above the same week a year ago, March 6-12, 2023 (77.0), but 1 point below the 2024 weekly average of 83.2.
Looking around the States, Consumer Confidence improved sharply in Western Australia, but was virtually unchanged in New South Wales, Victoria, Queensland and South Australia.
ANZ-Roy Morgan Australian Consumer Confidence rose slightly over the week but is still broadly trending sideways. Confidence in future finances, which measure how many participants believe their own finances will be better in a year from now, was at its highest level since January 2023. It also hit above its neutral 100 level, meaning more optimistic participants than pessimistic ones. Inflation expectations have settled lower this year, signalling confidence in the battle against inflation. Economic confidence fell after the weak GDP result out last week (GDP was up 0.2% q/q or 1.5% y/y). We expect GDP to be soft for the first half of the year before tax cuts, other fiscal stimulus and falling inflation help household incomes and spending.
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
