ANZ-Roy Morgan Consumer Confidence down 4.9 points to 68.5 – lowest Consumer Confidence since start of pandemic
ANZ-Roy Morgan Consumer Confidence was down 4.9 points to 68.5 this week driven by falling confidence about personal finances and the Australian economy over the next year and next five years. Consumer Confidence is now a large 15.3pts lower than a year ago, March 10-16, 2025 (83.8), and now 9.7pts below the 2026 weekly average of 78.2.
This is the second lowest ANZ-Roy Morgan Consumer Confidence Rating of all time – the only occasion Consumer Confidence was lower was the weekend of March 28/29, 2020, at the very start of the COVID-19 pandemic when widespread lockdowns were first introduced.
An analysis by State shows Consumer Confidence falling in most States including in New South Wales, Queensland, South Australia, and Western Australia, but up slightly in Victoria.
Driving this week’s decrease was less confidence about the Australian economy over the next year, and next five years, and less confidence about personal financial compared to a year ago.
Fewer than one-in-six Australians, 15% (down 3ppts), say their families are ‘better off’ financially than this time last year compared to a majority of 52% (up 5ppts) that say their families are ‘worse off’, – this is the lowest net result for this indicator for over two years since December 2023.
Net views on personal finances over the next year were virtually unchanged this week with 21% (up 1ppt) of respondents expecting their family will be ‘better off’ financially this time next year, while well over a third, 43% (unchanged), expect to be ‘worse off’ (the highest figure for this indicator for over 35 years since August 1989).
Net sentiment regarding the economy over the next year deteriorated significantly again this week with only 5% (down 1ppt) of Australians, expecting ‘good times’ (the lowest figure for this indicator for over two years since June 2023) for the Australian economy over the next twelve months compared to almost half, 49% (up 7ppts), that expect ‘bad times’ – (this is the highest figure for this indicator for over five years since August 2020).
Net views regarding the Australian economy over the next five years fell this week with just 8% (down 1ppt) of Australians expecting ‘good times’ for the economy over the next five years (a record low figure for this indicator) compared to nearly a third, 31% (up 2ppts), expecting ‘bad times’, - this is the lowest net figure for this indicator for over 35 years since January 1991.
Net buying intentions were down this week with only 16% (down 2ppts) of respondents saying now is a ‘good time to buy’ major household items (the lowest figure for this indicator for nearly six years since April 2020) compared to 47% (up 4ppts) that say now is a ‘bad time to buy major household items’ (the highest figure for this indicator for over a year since January 2025).
ANZ Economist, Sophia Angala, commented:
At 68.5pts, the ANZ-Roy Morgan Australian Consumer Confidence is now at its lowest since March 2020, when the first pandemic lockdowns were announced. Households are increasingly pessimistic about the one-year and five-year outlooks for the economy, likely driven by geopolitical uncertainty and the shifting outlook for inflation and rates.
Inflation expectations are still at their highest since November 2022, supported by the recent sharp rise in petrol prices. We expect the RBA Board to increase the cash rate by 25bp to 4.1% in its decision today. With inflation above target and the labour market viewed as tight by the RBA, there is likely to be less tolerance than usual to an external inflation shock, in this case from higher oil prices.
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 |
