The ANZ-Roy Morgan Consumer Confidence Index climbed 2.7 points to 88.4, marking its strongest performance since May 2022.
This is a 12-point improvement compared to the same period last year and 5.6 points higher than the 2024 weekly average.
Consumer confidence levels varied by state.
New South Wales, Queensland, and Western Australia saw increases, while Victoria and South Australia experienced declines.
The surge in optimism was largely driven by improved perceptions of current buying conditions during the Black Friday and Cyber Monday sales period, ANZ-Roy Morgan reported.
Fewer than one in four Australians (23%) feel their families are better off financially than a year ago, a modest one-point increase. Meanwhile, 47% report being worse off, unchanged from the previous week.
Optimism for the year ahead grew slightly, with 34% expecting their families to be better off financially next year (up two points), while 29% foresee worsening conditions (down two points).
Just 8% of Australians anticipate “good times” for the economy in the next year, a two-point dip, compared to 29% predicting “bad times.”
Longer-term outlooks showed slight improvement, with 12% expecting “good times” over the next five years (up two points) and 19% predicting “bad times” (unchanged).
The annual Black Friday and Cyber Monday sales lifted the “time to buy major household items” index by seven points, reaching 31% – the highest figure since April 2022.
The proportion of those saying it’s a “bad time to buy” dropped slightly to 42%, the lowest level since June 2022.
“ANZ-Roy Morgan Australian Consumer Confidence rose 2.7 points last week to 88.4, its highest level since May 2022,” said ANZ economist Sophia Angala (pictured above).
“The ‘time to buy a major household item’ sub-index saw its largest weekly rise since Black Friday sales in 2023.”
Angala also highlighted a dip in inflation expectations to 4.8%, a decline from the previous week’s 5%, aligning with RBA’s target.
The data underscores how seasonal sales and stable inflation can buoy consumer
Read the ANZ-Roy Morgan Consumer Confidence report in full here. To compare with the previous week’s, click here.
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