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Consumer confidence steady

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Confidence stays low

ANZ-Roy Morgan Consumer Confidence remained steady at 80.5 this week, marking a document 70 consecutive weeks beneath the 85-point threshold.

This determine is 4.7 factors larger than the identical week final yr however nonetheless 1.8 factors beneath the 2024 weekly common of 82.3.

“ANZ-Roy Morgan Australian Consumer Confidence edged up 0.3pts final week to maneuver off its 2024 low,” stated Madeline Dunk (pictured above), ANZ economist. “That stated, the sequence stays very weak, averaging solely 82.3pts in 2024 and 80.7pts in May. Confidence has been caught beneath the impartial stage of 100 for over two years.”

State-level confidence various, with will increase in Victoria, South Australia, and Western Australia, a lower in Queensland, and stability in New South Wales.

Persistent damaging sentiment

All 5 index questions remained in damaging territory for the second consecutive week.

Current monetary circumstances: Just 21% (down 1ppt) of Australians really feel higher off financially than a yr in the past, whereas 51% (unchanged) really feel worse off.
Future monetary circumstances: 31% (unchanged) count on their monetary scenario to enhance over the following yr, with 35% (unchanged) anticipating it to worsen, the very best determine for this indicator this yr.
Short-term financial confidence: Only 8% (unchanged) foresee “good occasions” for the economic system within the subsequent twelve months, in comparison with 35% (unchanged) anticipating “dangerous occasions.”
Medium-term financial confidence: Sentiment remained just about unchanged, with 12% (up 1ppt) predicting “good occasions” for the economic system over the following 5 years, and 21% (up 1ppt) anticipating “dangerous occasions.”
Major family purchases: Buying intentions have been steady, with 21% (unchanged) contemplating it a superb time to purchase main home items, whereas 49% (down 2ppts) assume it is a dangerous time.

Inflation expectations

Dunk famous that inflation expectations rose by 0.1 factors to five.0% final week, doubtlessly influenced by stronger-than-expected shopper value index knowledge. The ANZ economist highlighted that though that is the very best studying in a month, the general development stays downward and considerably beneath the November 2022 peak of 6.8%.

Click right here for the ANZ-Roy Morgan Consumer Confidence report. To evaluate the newest figures with the earlier outcomes, click on right here.

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