Confidence hits 12-month low

•  Consumer confidence fell 2.1 points last week to 83.0 points. The four-week moving average declined 0.7 points to 84.8 points.

•  ‘Weekly inflation expectations’ remained at 5.2 per cent, but the four-week moving average ticked up 0.1 percentage points to 5.1 per cent.

•  ‘Current financial conditions’ (over the last year) eased 4.6 points, while ‘future financial conditions’ (next 12 months) was down 1.2 points.

•  ‘Short-term economic confidence’ (next 12 months) decreased 2.3 points, and ‘medium-term economic confidence’ (next five years) dropped 3.2 points.

•  The ‘time to buy a major household item’ subindex rose 0.5 points.

"ANZ-Roy Morgan Australian Consumer Confidence fell 2.1pts last week to 83.0pts. On a four-week moving average basis, it is at its lowest level since October 2024. The softness in confidence was broad-based, but notably, household confidence in the economy over the next five years has dropped to its lowest level in over 15 years. Globally, the US federal government shutdown, ongoing trade policy uncertainty and political uncertainty in Japan and France may have been behind this," said ANZ Economist Sophia Angala. 

"Across housing cohorts, the fall in confidence was driven by mortgage-holders, which may have been due to discussion about the possibility of an RBA cash rate hold in November. We now expect the RBA to deliver the final 25bp rate cut in February 2026. Confidence also fell for renters and outright homeowners," she said. 

Download PDF