Now on its 67th week beneath the 86-point mark
Within the week main as much as the Federal Price range, the ANZ-Roy Morgan Shopper Confidence Index remained regular at 80.2, persevering with its 67-week development beneath the 85-point mark.
This stagnation occurred because the nation anticipated new price range measures geared toward addressing cost-of-living pressures.
Shopper confidence state-by-state
Shopper confidence different throughout Australia, with declines in Victoria, Western Australia, and South Australia, whereas New South Wales and Queensland noticed slight enhancements.
Monetary views
About 20% of Australians really feel financially higher off than final yr, according to earlier weeks, whereas 50% really feel worse off, a slight enhance in unfavorable sentiment.
Expectations for the following yr remained steady with 32% optimistic about enchancment, however an equal share anticipating monetary decline.
Financial outlook
Solely 9% of Australians count on financial enchancment within the subsequent 12 months, reflecting pervasive cautiousness amidst ongoing financial challenges.
Lengthy-term confidence additionally waned, with solely 11% optimistic concerning the subsequent 5 years, whereas 22% predict more durable occasions forward.
Shopper spending intentions
There was a notable lower within the variety of Australians who suppose it is a good time to purchase main home goods, with solely 19% in favor, the bottom up to now this yr. Conversely, 52% consider it is a dangerous time to make such purchases, marking the best degree of pessimism recorded in 2024.
“Shopper confidence fell 3.8 factors for these paying off a mortgage, reaching a 2024 low,” Dunk stated. “This sentiment is even weaker than that amongst renters, possible influenced by discussions suggesting extended excessive charges.”
She additionally famous the decline in confidence concerning the financial system’s five-year outlook and buying situations for main objects, each hitting their lowest factors for the yr.
The ANZ economist stated that they’re anticipating a possible rise in confidence following the price range announcement.
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