ANZ-Roy Morgan Consumer Confidence dropped 3.1pts to 64.1 after the Reserve Bank raised interest rates by +0.25%
ANZ-Roy Morgan Consumer Confidence dropped 3.1pts to 64.1 this week – the fourth 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 fourth lowest Consumer Confidence in the history of the index stretching back over 50 years since 1972.
An analysis by State shows Consumer Confidence dropped in New South Wales, Victoria, Queensland, and South Australia, but increased slightly in Western Australia.
The weekly decline was driven by decreasing confidence about the performance of the Australian economy over the next five years, and lower confidence about people’s personal financial situations.
Now just 14% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year compared to a majority of 56% (up 2ppts) that say their families are ‘worse off’.
Net views on personal finances over the next year also declined this week with 19% (down 1ppt) of respondents expecting their family will be ‘better off’ financially this time next year, while 45% (up 2ppts), expect to be ‘worse off’.
Net sentiment regarding the economy over the next year was virtually unchanged this week with 4% (down 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 only 6% (down 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to over a third, 34% (up 3ppts), expecting ‘bad times’.
Net buying intentions were down this week with just 13% (down 2ppts) of respondents saying now is a ‘good time to buy’ major household items compared to 53% (up 2ppts) that say now is a ‘bad time to buy major household items’.
ANZ Economist, Sophia Angala, commented:
“ANZ-Roy Morgan Australian Consumer Confidence fell 3.1pts last week, as the RBA increased the cash rate to 4.35%. At 64.1pts, confidence is at its fourth-lowest level since the series began in 1973. All subindices declined, led by a sharp fall in household confidence in personal finances. Weekly inflation expectations fell to their lowest level since early March, likely reflecting the fall in petrol prices in recent weeks.
While household spending data for March suggests higher fuel prices in the month had not yet dampened consumer spending, consumer confidence at a record low points to softer consumer demand ahead. ANZ Research expects activity data are likely to be sufficiently soft to keep the RBA cash rate on an extended hold at 4.35% over the near term.”
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 |
