ANZ-Roy Morgan Consumer Confidence down 3.4pts to 67.1 – lowest since May after RBA raises interest rates to 15-year high
ANZ-Roy Morgan Consumer Confidence decreased 3.4pts to 67.1 in early October – its lowest rating for over four months since late May after the Reserve Bank raised interest rates to a 15-year high of 4.6%. Consumer Confidence is a large 18pts lower than a year ago, September 29 – October 5, 2025 (85.1), and 5.1pts below the 2026 weekly average of 72.2.
An analysis by State shows confidence decreasing in the four largest States of New South Wales, Victoria, Queensland, and Western Australia, but up slightly in South Australia.
Consumer Confidence was driven lower this week due to less confidence about personal finances compared to a year ago and fewer people saying now is a ‘good time to buy’ major household items.
Now just over one-in-seven, 15% (down 2ppts), of Australians say their families are ‘better off’ financially than this time last year compared to a rising majority of 56% (up 6ppts) that say their families are ‘worse off’.
Views on personal finances over the next year were down slightly this week with just one-in-five, 20% (unchanged) of respondents expecting their family will be ‘better off’ financially this time next year, while a rising 45% (up 2ppts), expect to be ‘worse off’.
Net sentiment regarding the economy over the next year deteriorated this week with only 5% (down 1ppt) of Australians, expecting ‘good times’ compared to 46% (up 2ppts), that expect ‘bad times’.
Australians’ views about the economy’s performance over the longer-term of the next five years is virtually unchanged with 7% (down 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to almost a third, 32% (down 1ppt), expecting ‘bad times’.
Net buying intentions declined this week with just 14% (down 2ppts) of respondents saying now is a ‘good time to buy’ major household items compared to an increasing plurality of 47% (up 3ppts) that say now is a ‘bad time to buy major household items’.
ANZ Economist, Sophia Angala, commented:
“ANZ-Roy Morgan Australian Consumer Confidence fell last week to its tenth-lowest result since the series began in 1973, following the RBA’s decision to hike the cash rate to 4.60%, its highest level in over 15 years. Confidence in current and future financial conditions and in the short-term economic conditions fell to its lowest levels since late May, suggesting the RBA rate hike may be weighing on household sentiment. Confidence fell across all housing cohorts. It declined 2.1pts for outright homeowners and 2.6pts for mortgage holders. Renters recorded the largest fall (-6.1pts) though they remain the most confident cohort.
“We still think another rate hike in November is more likely than not, as we expect Q3 trimmed mean inflation to exceed the RBA’s forecasts. This would take the cash rate to 4.85%, its highest since 2008, which would likely weigh on consumer spending.”
Check out the latest results for our weekly surveys on Business Confidence, Consumer Confidence, and Voting Intention as follows:
Roy Morgan Business Confidence Statistics
ANZ – Roy Morgan Consumer Confidence Statistics
Federal Voting – Government Confidence Rating
Related Research Reports
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
Consumer Confidence – Monthly Detailed Report in Australia.
Business Confidence – Monthly Detailed Report in Australia.
Consumer Banking Satisfaction - Monthly Report in Australia.
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Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
| Sample Size | Percentage Estimate |
| 40% – 60% | 25% or 75% | 10% or 90% | 5% or 95% | |
| 1,000 | ±3.0 | ±2.7 | ±1.9 | ±1.3 |
| 5,000 | ±1.4 | ±1.2 | ±0.8 | ±0.6 |
| 7,500 | ±1.1 | ±1.0 | ±0.7 | ±0.5 |
| 10,000 | ±1.0 | ±0.9 | ±0.6 | ±0.4 |
| 20,000 | ±0.7 | ±0.6 | ±0.4 | ±0.3 |
| 50,000 | ±0.4 | ±0.4 | ±0.3 | ±0.2 |
