ANZ-Roy Morgan Consumer Confidence increased 1.3 points to 86.7, rebounding from last week’s fall to return to the level of two weeks ago.
Consumer confidence is 6.3 points above the same week a year ago and now just above the 2025 weekly average of 86.4.
The main driver of this week’s increase was more confidence about buying conditions as the End of Financial Year sales continue through to the end of the month.
Just over a fifth of Australians (21 per cent – up 1ppt) say their families are ‘better off’ financially than this time last year compared to 44 per cent (up 1ppt) that say their families are ‘worse off’.
Net views on personal finances over the next year improved this week with 28 per cent (up 1ppt) of respondents expecting their family will be ‘better off’ financially this time next year, while 32 per cent (down 2ppts) expect to be ‘worse off’.
Views on the economy over the next year were unchanged this week with just 11 per cent (unchanged) of Australians, expecting ‘good times’ for the Australian economy over the next twelve months compared to 30 per cent (unchanged) that expect ‘bad times’.
Net sentiment regarding the Australian economy in the longer-term was virtually unchanged this week with 13 per cent (up 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to 26 per cent (up 1ppt) expecting ‘bad times’.
Meanwhile, buying intentions drove this week’s increase with over a quarter of respondents (26 per cent – up 3ppts) of Australians saying now is a ‘good time to buy’ major household items compared to 33 per cent (down 1ppt) that say now is a ‘bad time to buy major household items’.
“The ‘time to buy a major household item’ subindex reached its highest level since late April 2022, prior to the beginning of the RBA’s hiking cycle,” ANZ economist Sophia Angala said. “This is likely supported by ongoing end-of-financial-year sales through June.
“Confidence in the economic outlook weakened, despite last week’s labour market data suggesting the labour market appears to be tracking better than what the RBA had expected in its May Statement on Monetary Policy.
Angala added she and her team expect labour market resilience alongside robust household income growth to support a pick-up in consumer confidence through this year, but ongoing trade and geopolitical uncertainty may soften its momentum.