Slips back
- Consumer confidence fell 1.2 points last week to 74.7 points. The four-week moving average rose 1.0 points to 73.5 points.
- ‘Weekly inflation expectations’ eased 0.2 percentage points to 5.4 per cent, while the four-week moving average dipped 0.2 percentage points to 5.7 per cent.
- ‘Current financial conditions’ (over the last year) dropped 0.6 points, while ‘future financial conditions’ (next 12 months) was down 2.2 points.
- ‘Short-term economic confidence’ (next 12 months) declined 3.9 points, and ‘medium-term economic confidence’ (next five years) decreased 0.6 points.
- The ‘time to buy a major household item’ subindex lifted 1.4 points.
infog
ANZ Economist, Sophia Angala, commented:
ANZ-Roy Morgan Australian Consumer Confidence declined 1.2 points to 74.7 points last week, as confidence in the financial and economic outlook weakened. The ‘time to buy a major household item’ subindex was the only subindex to improve last week, likely supported by end-of-financial-year sales during the survey period.
The decline in confidence coincided with the release of the RBA’s June Monetary Policy Board meeting minutes, which reinforced the Board’s hawkish stance and the risk of a further rate hike. The Board also noted that economic activity was slowing “as expected”. Consumer confidence remains well below its long-run average, pointing to softness in consumer demand over the near term. We expect annual household consumption growth to ease from 2.5 per cent in 2025 to 1.1 per cent in 2026.
ANZ-Roy Morgan Australian Consumer Confidence fell 1.2pts to 74.7pts last week
consumer
For media enquiries contact:
Siobhan Jordan
Senior Manager, Media Relations
+61 403 988 326