Shopper confidence secure – ANZ-Roy Morgan

The ANZ-Roy Morgan Shopper Confidence Index has remained nearly unchanged at 81.7, marking 59 consecutive weeks beneath the 85-point threshold, reflecting extended client cautiousness.

Shopper confidence assorted throughout the states, with will increase in New South Wales and Queensland however decreases in Victoria, Western Australia, and South Australia.

Monetary situations report

Present monetary situations revealed that solely 18% (down 1ppt) of Australians really feel financially higher off than final yr, the bottom to date this yr, with 52% (down 1ppt) feeling worse off.

Australians are break up on their monetary outlook for the subsequent yr, with 32% (down 1ppt) anticipating they’re going to be financially higher off, whereas an equal share expects to be worse off (up 2ppt).

Financial outlook combined

Australians are divided on their monetary outlook for the subsequent yr, and short-term financial confidence is low, with solely 10% (down 1ppt) optimistic concerning the financial system over the subsequent 12 months in comparison with 31% (unchanged) anticipating dangerous instances.

Medium-term financial confidence noticed a slight enchancment with 12% (up 1ppt) of Australians anticipating good instances for the financial system over the subsequent 5 years, versus the 20% (unchanged) anticipating dangerous instances.

Family buy intentions unchanged

Intentions to purchase main home items stay stagnant, with 20% seeing it as time to purchase and 49% viewing it as a nasty time.

Insights from ANZ economist

Madeline Dunk (pictured above), ANZ economist, supplied insights into the most recent findings.

“ANZ-Roy Morgan Australian Shopper Confidence was broadly unchanged final week,” Dunk stated. “In the meantime, inflation expectations fell to their lowest degree since February 2022. That is more likely to be welcomed by the RBA, given the board’s concentrate on inflation expectations remaining anchored.”

Dunk additionally commented on particular segments.

“Confidence amongst households paying off a mortgage declined 6.4pts to its lowest degree this yr,” Dunk stated. “Confidence amongst renters stays weak… The scenario is a bit of higher for many who personal their dwelling outright, with confidence rising 5.5pts.”

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