Roy Morgan Research
February 04, 2025

ANZ-Roy Morgan Consumer Confidence increases 2.5pts to 88.5 after the long weekend – its highest since May 2022

Topic: Consumer Confidence
Finding No: 9660

ANZ-Roy Morgan Consumer Confidence increased 2.5pts to 88.5 after the Australia Day long weekend with a rebound in buying intentions driving the increase after three straight weeks of declines.

Consumer Confidence is now 4.7 points above the same week a year ago, January 29 – February 4, 2024 (83.8), and 1.5 points above the 2025 weekly average of 87.0.

A look at Consumer Confidence by State shows increases in Victoria, Queensland, Western Australia, and South Australia while the index was virtually unchanged in New South Wales.

A look across the index shows a rebound in buying intentions and a more positive outlook on the Australian economy over the next year and five years driving the weekly increase.

Current financial conditions

  • Just a fifth of Australians, 20% (unchanged), say their families are ‘better off’ financially than this time last year compared to 46% (down 2ppts) that say their families are ‘worse off’.

Future financial conditions

  • Views on personal finances over the next year were virtually unchanged this week with a third of respondents, 33% (down 1ppt), expecting their family will be ‘better off’ financially this time next year while 28% (down 1ppt) expect to be ‘worse off’.

Short-term economic confidence

  • Views on the economy over the next year increased slightly this week with just over one-in-ten Australians, 11% (up 1ppt) expecting ‘good times’ for the Australian economy over the next twelve months (the highest figure for this indicator since July 2024) compared to 27% (unchanged), that expect ‘bad times’ - the best ‘net result’ (-16) for this indicator for nearly three years since April 2022.

Medium-term economic confidence

  • Net sentiment regarding the Australian economy in the longer term improved this week with 13% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to almost a fifth, 17% (down 3ppts), expecting ‘bad times’.

Time to buy a major household item

  • There was a bounce in net buying intentions this week with 27% (up 2ppts) of Australians saying now is a ‘good time to buy’ major household items compared to 44% (down 3ppts) that say now is a ‘bad time to buy major household items’.

ANZ Economist, Sophia Angala, commented:

Block Quote

ANZ-Roy Morgan Australian Consumer Confidence rose 2.5pts last week to 88.5pts, its highest level since May 2022. Households are feeling more confident about the economic outlook, with short-term economic confidence rising to its highest level since April 2022 (before the first rate hike in May 2022), while economic confidence over the next five years reached a 12-month high.

The decline in weekly inflation expectations and the broad-based lift across the subindices may have been influenced by discussion that the RBA could cut rates at its February meeting. This comes after the quarterly CPI indicator showed that the RBA’s preferred measure of inflation, the trimmed mean, printed below RBA forecasts in Q4.

Check out the latest results for our weekly surveys on Business Confidence, Consumer Confidence, and Voting Intention as follows:

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

For comments or more information please contact:
Roy Morgan - Enquiries
Office: +61 (03) 9224 5309
askroymorgan@roymorgan.com

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
Back to topBack To Top Arrow