ANZ-Roy Morgan Consumer Confidence up 3pts to 84.8 to start 2024 with the traditional New Year ‘bounce’
ANZ-Roy Morgan Consumer Confidence increased 3pts to 84.8 in the first week of 2024, taking the index to its highest since early February 2023.
Consumer Confidence started 2024 8.4pts higher than a month ago in early December and is now nearly 7pts above the 2023 weekly average of 78.0.
However, despite the increase, Consumer Confidence has now spent a record 47 straight weeks below the mark of 85 and is 2.6pts lower than the same week a year ago, January 2-8, 2023 (87.4)
There were mixed results around the States with Consumer Confidence up in the larger States of NSW, Victoria and Queensland but down slightly in Western Australia and South Australia.
The drivers of this week’s increase were improved buying intention in the post-Christmas sales period as well as less concern about the economy’s performance over the next year and next five years.
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