Six week low
- Consumer confidence fell 3.0pts last week to 71.9pts. The four-week moving average dropped 0.8pts to 75.2pts.
- ‘Weekly inflation expectations’ rose 0.2ppt to 6.3%, while the four-week moving average ticked up 0.1ppt to 6.1%.
- ‘Current financial conditions’ (over the last year) was down 7.5pts, and ‘future financial conditions’ (next 12 months) declined 2.4pts.
- ‘Short-term economic confidence’ (next 12 months) decreased 1.5pts, while ‘medium- term economic confidence’ (next five years) also eased 1.5pts.
- The ‘time to buy a major household item’ subindex dropped 1.9pts.
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ANZ Economist, Sophia Angala, commented:
"ANZ-Roy Morgan Australian Consumer Confidence fell 3.0pts to 71.9pts last week, its lowest level since late July. The prospect of another RBA rate hike in 2026 may have weighed on sentiment, with a sharp decline in households’ views of their current financial conditions driving the fall in confidence. Last week’s GDP data showed an economy growing slightly below potential, which may also have contributed to weaker economic confidence. Meanwhile, weekly inflation expectations rose to their highest level since early May (when negotiations between the US and Iran stalled) and remain elevated compared to the start of 2026.
We continue to expect the RBA to increase the cash rate in November by 25bp."
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