Consumer confidence rose 0.5 points last week to 87.2 points. The four-week moving average ticked up 0.2 points to 86.5 points. 'Weekly inflation expectations' was steady at 4.7 per cent, while the four-week moving average fell 0.1 point to 4.8 per cent. 'Current financial conditions' (over the last year) declined 4.9 points, while 'future financial conditions' (next 12 months) decreased 0.2 points. 'Short-term economic confidence' (next 12 months) increased 1.2 points, and 'medium-term economic confidence' (next five years) lifted 2.8 points. The 'time to buy a major household item' subindex jumped 3.9 points.
ANZ Economist Sophia Angala said: "ANZ-Roy Morgan Australian Consumer Confidence rose 0.5 points last week to 87.2 points. The headline series continues to be driven by the upward momentum in the 'time to buy a major household item' subindex. End-of-financial-year sales has supported the subindex to its highest level since March 2022.
"Confidence in the economic outlook strengthened last week as a rise in ABS job vacancies in the three months to May suggested the labour market is likely to remain tight. 'Weekly inflation expectations' was steady at 4.7 per cent, despite monthly CPI data showing that core inflation printed at its lowest level since November 2021," Angala said.
"Overall, global trade uncertainty has eased since the 2 April tariff announcements; and the pace of growth in household disposable incomes, alongside expected RBA rate cuts in August 2025 and February 2026 should support an upward movement in ANZ-Roy Morgan Australian Consumer Confidence later this year."
