ANZ-Roy Morgan Consumer Confidence virtually unchanged at 66.1 in mid-May – eighth lowest reading of all time
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 66.1, down just 0.3pts this week – but still the eighth lowest Consumer Confidence reading of all time. Consumer Confidence is 20.9pts lower than a year ago, May 19-25, 2025 (87.0), and 5.2pts below the 2026 weekly average of 71.3.
Consumer Confidence in mid-May was the eighth lowest Consumer Confidence in the history of the index stretching back over 50 years since 1973.
An analysis by State shows Consumer Confidence increased in New South Wales, and Queensland, but decreased in Victoria, Western Australia, and South Australia.
Although the overall figure was unchanged, there was weakness in the index related to personal finances, which was largely offset by more people saying it’s a ‘good time to buy’ major household items.
Now just 13% (down 2ppts) of Australians say their families are ‘better off’ financially than this time last year compared to a majority of 56% (up 1ppt) that say their families are ‘worse off’.
Net views on personal finances over the next year were slightly weaker this week with 20% (down 1ppt) of respondents expecting their family will be ‘better off’ financially this time next year, while 47% (up 1ppt), expect to be ‘worse off’.
Net sentiment regarding the economy over the next year was unchanged this week with 5% (up 1ppt) of Australians, expecting ‘good times’ compared to 47% (up 1ppt), that expect ‘bad times’.
Views regarding the Australian economy over the next five years were unchanged this week with 7% (unchanged) of Australians expecting ‘good times’ for the economy over the next five years compared to under a third, 32% (unchanged), expecting ‘bad times’.
Net buying intentions improved for a second straight week with 15% (up 3ppts) of respondents saying now is a ‘good time to buy’ major household items compared to 48% (down 1ppt) that say now is a ‘bad time to buy major household items’.
ANZ Economist, Sophia Angala, commented:
“ANZ-Roy Morgan Australian Consumer Confidence was broadly unchanged last week, falling just 0.3pts to 66.1pts. Confidence remains around historical lows since the series began in 1973. While confidence in financial conditions eased, confidence in economic conditions improved slightly, which may have been driven by news of the prospect of a US-Iran deal.
Weekly inflation expectations ticked up ahead of April CPI data this week, which will be key to revealing the speed and extent of which higher input costs (such as fuel, fertiliser or plastics) are flowing through to the broader inflation basket. We expect headline inflation to have risen 0.5% m/m in April.”
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 |
