ANZ-Roy Morgan Consumer Confidence was down 0.6pts to 67.2 in early May before the Reserve Bank meeting
ANZ-Roy Morgan Consumer Confidence was down 0.6pts to 67.2 this week – the seventh lowest Consumer Confidence reading of all time. Consumer Confidence is a large 20.3pts lower than a year ago, April 28 – May 4, 2025 (87.5), and now 5.1pts below the 2026 weekly average of 72.3.
Consumer Confidence in early May was the seventh lowest Consumer Confidence in the history of the index stretching back over 50 years since 1972.
An analysis by State shows Consumer Confidence improved in New South Wales and South Australia, but declined in Victoria, Queensland, and Western Australia.
The weekly decline was driven by decreasing confidence about the performance of the Australian economy over the next five years, and fewer people saying now is a ‘good time to buy’ major household items.
Now just 16% (down 1ppt) of Australians say their families are ‘better off’ financially than this time last year compared to a majority of 54% (unchanged) that say their families are ‘worse off’.
Net views on personal finances over the next year were virtually unchanged this week with 20% (unchanged) of respondents expecting their family will be ‘better off’ financially this time next year, while 43% (down 1ppt), expect to be ‘worse off’.
Net sentiment regarding the economy over the next year was virtually unchanged this week with 5% (up 1ppt) of Australians, expecting ‘good times’ compared to 48% (unchanged), that expect ‘bad times’.
Net views regarding the Australian economy over the next five years deteriorated this week with 7% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to under a third, 31% (up 2ppts), expecting ‘bad times’.
Net buying intentions were marginally down this week with 15% (down 2ppts) of respondents saying now is a ‘good time to buy’ major household items compared to 51% (unchanged) that say now is a ‘bad time to buy major household items’.
ANZ Economist, Sophia Angala, commented:
“There was a slight easing in ANZ-Roy Morgan Australian Consumer Confidence last week, with the headline index down 0.6pts to 67.2pts. The series remains near its lowest level since the series began in 1973. Household confidence in financial conditions largely improved, with the ‘future financial conditions’ subindex rising to its highest level since mid-March.
Household confidence in economic conditions weakened slightly. This likely reflects last week’s Q1 CPI data, which showed annual growth in trimmed mean (underlying) inflation remaining above the RBA’s 2–3% target band. With further price pressures expected from higher fuel and other costs, this will likely keep the RBA cautious around the inflation outlook. We expect the RBA to increase the cash rate by 25bp to 4.35% in its decision today.”
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 |
