ANZ-Roy Morgan Consumer Confidence increased further in the last week following the Labor Government’s landslide re-election.
Consumer confidence is now at 88.3, up 0.8 points in the last week following a 4.1 point lift in the week during the election.
Consumer Confidence is 8.1 points above the same week a year ago, and 2 points above the 2025 weekly average of 86.3.
ANZ economist Sophia Angala said the series is at its highest level since the Reserve Bank of Australia’s 25 basis point rate cut in February.
“Last week’s lift was driven by an improvement in household confidence in the 12-month outlook,” Angala said. “Household economic confidence over the next year on a 4-week moving average basis is at its highest level since early March, prior to the introduction of US tariffs on aluminium and steel products.
“The lift in the 12-month outlook may also be supported by the prospect of a 25bp rate cut by the RBA at its May meeting. We continue to expect this rate cut given moderating inflation, lower than expected household spending data last week and the uncertain global backdrop.”
A look across the index shows the driver of the weekly increase was more positive views about the year ahead both in terms of personal finances as well as the performance of the Australian economy.
Just under a fifth of Australians (18 per cent - down 1ppt) say their families are ‘better off’ financially than this time last year compared to 43 per cent (up 1ppt) that say their families are ‘worse off’.
Net views on personal finances over the next year improved with 30 per cent (up 2ppts) of respondents expecting their family will be ‘better off’ financially this time next year, while 28 per cent (up 1ppt) expect to be ‘worse off’.
Over one-in-eight Australians (13 per cent - up 3ppts) are now expecting ‘good times’ for the Australian economy over the next twelve months – the highest figure for this indicator for over three years since April 2022 – compared to 26 per cent (down 1ppt), that expect ‘bad times’.
However, net sentiment regarding the Australian economy in the longer-term was little changed this week with 14 per cent (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to 20 per cent (up 1ppt) expecting ‘bad times’.
Net buying intentions improved this week with 20 per cent (unchanged) of Australians saying now is a ‘good time to buy’ major household items compared to 36 per cent (down 2ppts) that say now is a ‘bad time to buy major household items’ – this is the lowest figure for this indicator for over three years since March 2022.
Across the states, New South Wales, Victoria and Western Australia recorded lifts in consumer confidence, while South Australia and Queensland decreased.