ANZ-Roy Morgan Consumer Confidence up 0.8pts to 88.3 after the ‘Albanese Labor Government’ was easily re-elected
ANZ-Roy Morgan Consumer Confidence increased 0.8pts to 88.3 after Prime Minister Anthony Albanese’s Labor Government was easily re-elected with a two-party preferred swing of around 2.5%.
Consumer Confidence is 8.1 points above the same week a year ago, May 6-12, 2024 (80.2) and 2pts above the 2025 weekly average of 86.3.
An analysis by State shows increases around Australia including in New South Wales, Victoria, and Western Australia, but decreases in South Australia and Queensland – the only State to record a two-party preferred result in favour of the LNP at the Federal Election – albeit only marginally.
A look across the index shows the driver of the weekly increase was more positive views about the year ahead both in terms of personal finances as well as the performance of the Australian economy.
Just under a fifth of Australians, 18% (down 1ppt), say their families are ‘better off’ financially than this time last year compared to 43% (up 1ppt) that say their families are ‘worse off’.
Net views on personal finances over the next year improved with nearly a third, 30% (up 2ppts) of respondents, expecting their family will be ‘better off’ financially this time next year, while 28% (up 1ppt) expect to be ‘worse off’.
Views on the economy over the next year were the biggest driver of the weekly increase with over one-in-eight Australians, 13% (up 3ppts), expecting ‘good times’ for the Australian economy over the next twelve months (the highest figure for this indicator for over three years since April 2022) compared to 26% (down 1ppt), that expect ‘bad times’.
However, net sentiment regarding the Australian economy in the longer-term was little changed this week with 14% (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to a fifth, 20% (up 1ppt), expecting ‘bad times’.
Net buying intentions improved this week with 20% (unchanged) of Australians saying now is a ‘good time to buy’ major household items compared to 36% (down 2ppts) that say now is a ‘bad time to buy major household items’ (the lowest figure for this indicator for over three years since March 2022).
ANZ Economist, Sophia Angala, commented:
ANZ-Roy Morgan Australian Consumer Confidence rose 0.8pts last week to 88.3pts. The series is at its highest level since the RBA’s 25bp rate cut in February.
Last week’s lift was driven by an improvement in household confidence in the 12-month outlook. Household economic confidence over the next year on a 4-week moving average basis is at its highest level since early March, prior to the introduction of US tariffs on aluminium and steel products. The lift in the 12-month outlook may also be supported by the prospect of a 25bp rate cut by the RBA at its May meeting. We continue to expect this rate cut given moderating inflation, lower than expected household spending data last week and the uncertain global backdrop.
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 |
