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ANZ-Roy Morgan Consumer Confidence drops 1.2 points to 89.3 – lowest since August 2020 as petrol prices increase again

This weekly ANZ-Roy Morgan Consumer Confidence Rating is based on 1,492 online and telephone interviews conducted Australia-wide with men and women aged 14 during the week of May 9-15, 2022.
ANZ-Roy Morgan Consumer Confidence dropped 1.2 points to 89.3 this week, a fourth straight weekly drop and is now at its lowest since August 15/16, 2020 (88.6) nearly two years ago. This is the longest series of declines in the index since that same month when Consumer Confidence dropped for seven straight weeks in June – August 2020.

Consumer Confidence is now a significant 23.2pts below the same week a year ago, May 15/16, 2021 (112.5) and is now 7.5pts below the 2022 weekly average of 96.8.
There was not a consistent trend on a State-based basis with Consumer Confidence down in Victoria, Western Australia and South Australia, but up slightly in New South Wales and Queensland. The driver of the weekly fall was a decrease in confidence about personal financial situations compared to a year ago as well as less confidence that now is a good/bad time to buy major household items.

Now just a quarter of Australians, 25% (down 2ppts) say their families are ‘better off’ financially than this time last year compared to 38% (up 2ppts), that say their families are ‘worse off’ financially.

Looking forward, under a third of Australians, 31% (down 1ppt) expect their family to be ‘better off’ financially this time next year compared to 27% (down 1ppt), that expect to be ‘worse off’ financially.

An unchanged 10%, of Australians expect ‘good times’ for the Australian economy over the next twelve months compared to 30% (down 1ppt), that expect ‘bad times’.
In the longer term, just 14% (up 1ppt), of Australians are expecting ‘good times’ for the economy over the next five years compared to 20% (up 1ppt) expecting ‘bad times’.

The increase in interest rates has led to buying intentions deteriorating again this week, with 26% (down 1ppt) of Australians, saying now is a ‘good time to buy’ major household items (the lowest figure for this indicator for over two years since April 2020) while 44% (up 1ppt) say now is a ‘bad time to buy’ (the highest figure for this indicator for over two years since April 2020).

ANZ Head of Australian Economics, David Plank, commented:

Consumer confidence dropped 1.3% last week, its third consecutive weekly loss. Last week’s decline was mainly driven by drops in the subindices that capture the‘financial situation compared to a year ago’ and whether it is a ‘good time to buy a major household item’. This suggests that cost of living concerns are front and centre for consumers. Among the respondents ‘paying off their home loan’, confidence dropped 0.6%, falling a cumulative 14.7% over the past three weeks. Confidence was 2.7% lower for people who ‘own their home’, while it rose 0.5% for people who are ‘renting’. Household inflation expectations rose 0.2ppt to 5.3% amid higher petrol prices.

Latest ANZ-Roy Morgan Australian & Asia-Pacific Consumer Confidence Data Tables

ANZ-Roy Morgan Weekly Australian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan 2021 Weekly Australian Consumer Confidence Results
ANZ-Roy Morgan Monthly Australian Consumer Confidence Results (1973-2022)
ANZ-Roy Morgan New Zealand Consumer Confidence Results (All 5 Questions)
Roy Morgan Indonesian Consumer Confidence Results (All 5 Questions)
ANZ-Roy Morgan Asia-Pacific Consumer Confidence Results (Headline Figures)

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.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.

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Roy Morgan is the largest independent Australian research company, with offices throughout Australia, as well as in Indonesia, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan has over 70 years’ experience in collecting objective, independent information on consumers.

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


25% or 75%

10% or 90%

5% or 95%