ANZ-Roy Morgan Consumer Confidence up for a third straight week, up by 1.4pts to 88.6, before today’s Reserve Bank meeting
ANZ-Roy Morgan Consumer Confidence increased 1.4pts to 88.6 this week and is now at its highest since mid-May. Consumer Confidence is 9.6 points above the same week a year ago, July 1-7, 2024 (79.0) and 2pts above the 2025 weekly average of 86.6.
This is the first time Consumer Confidence has increased for three straight weeks since May – in the three weeks before the Reserve Bank’s meeting in late May which decided to cut interest rates.
An analysis by State shows mixed results with Consumer Confidence up in Victoria, Western Australia and South Australia, but down in New South Wales and Queensland.
This week’s small increase was driven by more confidence about personal financial situations and the Australian economy, but buying sentiment dropped after the end of the End of Financial Year Sales.
A fifth of Australians, 20% (up 3ppts), say their families are ‘better off’ financially than this time last year compared to 42% (down 3ppts) that say their families are ‘worse off’.
Net views on personal finances over the next year improved slightly this week with 29% (up 1ppt) of respondents expecting their family will be ‘better off’ financially this time next year, while 32% (down 1ppt) expect to be ‘worse off’.
Views on the economy over the next year were slightly better this week with just 11% (unchanged) of Australians, expecting ‘good times’ for the Australian economy over the next twelve months compared to over a quarter, 27% (down 2ppts), that expect ‘bad times’.
Net sentiment regarding the Australian economy in the longer-term improved marginally this week with 14% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to just over a fifth, 21% (down 3ppts), expecting ‘bad times’.
Net buying intentions dropped this week after the finish of the ‘End of Financial Year’ (EOFY) Sales with a quarter of respondents, 25% (down 3ppts) saying now is a ‘good time to buy’ major household items compared to 34% (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 rose 1.4pts last week to 88.6pts. The ‘Time to buy a major household item’ was the only subindex to see a decline last week, as end-of-financial-year sales concluded at the beginning of the survey period.
Confidence in both the financial and economic outlook strengthened, possibly supported by the prospect of an RBA rate cut at its July meeting. We expect 25bp rate cuts by the RBA each in July and August, given a soft consumer sector as suggested by recent momentum in retail sales and lingering US trade policy uncertainty.
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 |
