ANZ-Roy Morgan Consumer Confidence softens ahead of today’s RBA interest rates decision, down 1.3pts to 89.3
ANZ-Roy Morgan Consumer Confidence dropped 1.3pts to 89.3 this week ahead of today’s Reserve Bank meeting on interest rates. Consumer Confidence is now 5.4 points above the same week a year ago, August 5-11, 2024 (83.9) and 2.5pts above the 2025 weekly average of 86.8.
An analysis by State shows mixed results with Consumer Confidence up in New South Wales, Victoria and Western Australia, but down in Queensland and South Australia.
Driving Consumer Confidence lower this week was a slight softening in confidence about personal financial situations as well as a modest fall in perceptions of current buying intentions.
Just over a fifth of Australians, 21% (down 1ppt), say their families are ‘better off’ financially than this time last year compared to 40% (unchanged) that say their families are ‘worse off’.
Net views on personal finances over the next year weakened with 28% (unchanged) of respondents expecting their family will be ‘better off’ financially this time next year, while a rising 30% (up 2ppts) expect to be ‘worse off’.
Net sentiment regarding the economy over the next year was marginally improved this week with 13% (up 1ppt) of Australians, expecting ‘good times’ for the Australian economy over the next twelve months compared to just over a quarter, 26% (down 1ppt), that expect ‘bad times’.
Net views regarding the Australian economy in the longer-term deteriorated slightly this week with 13% (down 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to just under a quarter, 24% (up 2ppts), expecting ‘bad times’.
Net buying intentions deteriorated this week with under a quarter of respondents, 24% (down 2ppts) saying now is a ‘good time to buy’ major household items compared to 33% (up 1ppt) that say now is a ‘bad time to buy major household items’.
ANZ Economist, Madeline Dunk, commented:
While ANZ-Roy Morgan Australian Consumer Confidence recorded a small fall last week, on a four-week moving average basis the series is at its highest level in more than three years. Over the past month, confidence has risen 2.8pts, driven by a 6.5pts lift in household confidence in the economic outlook over the coming year. There has also been a 4.1pts improvement in how households are feeling about their finances compared to last year.
There are signs the gradual lift in confidence is flowing through into household spending, with recent data looking robust. Rate cuts, falling inflation and a continual improvement in real household incomes should all support consumer confidence. We expect the RBA to cut rates 25bp today and again in November, taking the cash rate to 3.35%.
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 |
