The ANZ-Roy Morgan Consumer Confidence index remained virtually unchanged at 83.4 this week, marking a record 89 consecutive weeks below the benchmark of 85.
Despite this, it’s now seven points higher than the same time last year and 1.3 points above the 2024 weekly average.
Consumer confidence varied by state this week, with improvements noted in New South Wales, declines in Victoria, Queensland, and South Australia, and no change in Western Australia.
Only 21% of Australians say their families are financially better off than a year ago, down two percentage points from last week, while 49% feel they are worse off.
Looking ahead, 33% of people expect their finances to improve next year, but 31% anticipate financial deterioration.
Confidence in the short-term economic outlook is still low, with only 10% of Australians expecting "good times" over the next year, while 30% predict “bad times.” This represents a slight dip in economic sentiment.
The outlook for the economy over the next five years remained stable, with 11% of respondents predicting positive conditions and 20% expecting a downturn.
There was little movement in consumers’ readiness to make large purchases, with 20% saying it’s a “good time to buy” major household items, while 48% continue to see now as a “bad time” for such purchases.
“ANZ-Roy Morgan Australian Consumer Confidence was steady last week, with households feeling more confident about the economic outlook but less confident about their financial situation,” said ANZ Economist Madeline Dunk (pictured above).
Dunk added that renter confidence has been trending upward, while confidence among homeowners and mortgage holders remains stable.
Access the ANZ-Roy Morgan Consumer Confidence report here. To compare with the previous results, click here.
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