Client confidence steady – ANZ-Roy Morgan

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

Client confidence various 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 in regards to the financial system over the subsequent 12 months in comparison with 31% (unchanged) anticipating unhealthy occasions.

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

Family buy intentions unchanged

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

Insights from ANZ economist

Madeline Dunk (pictured above), ANZ economist, offered insights into the newest findings.

“ANZ-Roy Morgan Australian Client Confidence was broadly unchanged final week,” Dunk mentioned. “In the meantime, inflation expectations fell to their lowest stage since February 2022. That is prone 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 stage this yr,” Dunk mentioned. “Confidence amongst renters stays weak… The scenario is a little bit higher for many who personal their house outright, with confidence rising 5.5pts.”

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