ANZ-Roy Morgan Consumer Confidence slumps 5.2pts to 79.3; lowest Consumer Confidence for 18 months since July 2024
ANZ-Roy Morgan Consumer Confidence dropped by 5.2pts to 79.3 and is now 6.5pts lower than a year ago, January 13-19, 2025 (85.8), and 7pts below the 2025 weekly average of 86.3.
Consumer Confidence has now hit its lowest level for 18 months since July 8-14, 2024 (78.5).
An analysis by State shows large falls in New South Wales and Queensland, small falls in Victoria and South Australia, and virtually unchanged in Western Australia.
Driving the weekly decrease was a plunge in ‘buying sentiment’ and a significant drop in confidence about the next year, although all indicators moved in a negative direction. The fall of 5.2pts was the largest weekly fall for nearly three years since February 6-12, 2023 (78.1, down 5.5pts in a week) after the Reserve Bank raised interest rates for a ninth consecutive meeting – up 0.25% to 3.35%.
Just over a sixth of Australians, 17% (down 2ppts), say their families are ‘better off’ financially than this time last year (the lowest figure for this indicator for over two-and-a-half years since June 2023) compared to a plurality of 45% (unchanged) that say their families are ‘worse off’.
Views on personal finances over the next year declined marginally this week with 25% (down 1ppt) of respondents expecting their family will be ‘better off’ financially this time next year, while just over a third, 34% (up 1ppt), expect to be ‘worse off’.
Net sentiment regarding the economy over the next year dropped significantly this week with just 6% (down 4ppts) of Australians, expecting ‘good times’ for the Australian economy over the next twelve months (the lowest figure for this indicator for over two years since November 2023) compared to over a third, 34% (up 2ppts), that expect ‘bad times’.
Net views regarding the Australian economy in the longer-term also declined this week with just 8% (down 3ppts) of Australians expecting ‘good times’ for the economy over the next five years (the lowest figure for this indicator for over 35 years since June 1990) compared to over a quarter, 28% (unchanged), expecting ‘bad times’.
Net buying intentions plunged significantly this week after the end of the post-Christmas sales period with 20% (down 6ppts) of respondents saying now is a ‘good time to buy’ major household items compared to 38% (up 6ppts) that say now is a ‘bad time to buy major household items’ (the highest figure for this indicator for nine months since April 2025).
ANZ Economist, Sophia Angala, commented:
ANZ-Roy Morgan Consumer Confidence declined 5.2pts last week to 79.3pts. This was the sharpest weekly drop in confidence since February 2023 (when the RBA increased the cash rate to 3.35%). Consumer confidence, which saw some improvement following Stage 3 tax cuts introduced in July 2024, has now plummeted to its lowest level since the tax cuts.
The ‘time to buy a major household item’ subindex eased to its lowest level since late April 2025. This pullback follows an upward trend over the second half of 2025, supported by sales events and moderating inflation. Household confidence in the five-year economic outlook dropped to its weakest level in over two decades, perhaps impacted by the possibility of rate hikes in 2026. While we expect the RBA to be on an extended hold in 2026, we consider the risks of a rate hike in the first half of this year have risen.
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 |
