Consumer confidence lifts after record low

Consumer confidence lifted 3.5 points last week to 62.3 points. The four-week moving average fell 2.8 points to 63.2 points.

‘Weekly inflation expectations’ ticked down 0.1 percentage points to 7.2 per cent, while the four-week moving average rose from 6.8 per cent to 7.0 per cent.

‘Current financial conditions’ (over the last year) rose 1.7 points, while ‘future financial conditions’ (next 12 months) jumped 6.0 points.

‘Short-term economic confidence’ (next 12 months) was up 3.3 points, and ‘medium-term economic confidence’ (next five years) gained 4.4 points.

The ‘time to buy a major household item’ subindex increased 2.3 points.

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"ANZ-Roy Morgan Australian Consumer Confidence lifted from its record low last week but, at 62.3 points, is at its second-lowest level since records began in 1973. All subindices strengthened and inflation expectations eased slightly," said ANZ Economist, Sophia Angala.

"This occurred in the same week that the three-month reduction in the fuel excise took effect and the release of the RBA’s March Monetary Policy Board meeting minutes.

"In the minutes, the Board noted there were some downside risks to household consumption in Q1 2026, as higher petrol prices and weak consumer confidence could weigh on spending. We expect household consumption growth to ease from 2.4 per cent in 2025 to 1.1 per cent in 2026."

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