ANZ-Roy Morgan Consumer Confidence drops 2.6pts to 84.2 as Australian Dollar and markets fall following ‘Trump Tariffs’
ANZ-Roy Morgan Consumer Confidence dropped 2.6pts to 84.2 last week following US President Trump’s announcements of world-wide tariffs late the previous week which caused significant market volatility. The ASX200 ended last week down around 20 points and the Australian Dollar fell around 1 cent against the US Dollar – although both were down significantly more earlier in the week.
Consumer Confidence is now 0.7 points above the same week a year ago, April 8-14, 2024 (83.5), but is now 2.4pts below the 2025 weekly average of 86.4.
An analysis by State shows there were decreases in Victoria, Queensland, Western Australia, and South Australia, but a modest increase in New South Wales against the overall trend.
A look across the index shows the driver of the weekly decrease was less confidence about the next 12 months relating to personal finances and the performance of the Australian economy.
Current financial conditions
- A fifth of Australians, 20% (up 1ppt), say their families are ‘better off’ financially than this time last year compared to 47% (up 2ppts) that say their families are ‘worse off’.
Future financial conditions
- Views on personal finances over the next year weakened with 28% (down 2ppts) of respondents, expecting their family will be ‘better off’ financially this time next year while 30% (up 2ppts) expect to be ‘worse off’.
Short-term economic confidence
- Views on the economy over the next year significantly weakened this week with only one-in-ten Australians, 10% (down 2ppts) expecting ‘good times’ for the Australian economy over the next twelve months compared to 33% (up 5ppts), that expect ‘bad times’.
Medium-term economic confidence
- Net sentiment regarding the Australian economy in the longer term also weakened this week with 12% (down 1ppt) of Australians expecting ‘good times’ for the economy over the next five years compared to over a fifth, 22% (up 2ppts), expecting ‘bad times’.
Time to buy a major household item
- Net buying intentions were virtually unchanged this week with 22% (up 2ppts) of Australians saying now is a ‘good time to buy’ major household items compared to 40% (up 1ppt) that say now is a ‘bad time to buy major household items’.
ANZ Economist, Sophia Angala, commented:
ANZ-Roy Morgan Australian Consumer Confidence fell 2.6pts last week to 84.2pts. The drop likely reflects the more pessimistic global backdrop following US tariff announcements (the previous week’s survey was taken partly before and partly after the initial announcement). Consumer confidence fell most sharply in subindices that describe the year ahead. Both financial and economic confidence fell below their respective H2 2024 averages.
In a speech last week, RBA Governor Bullock noted the RBA is focusing on how global uncertainty could impact household and business decisions domestically. We expect the RBA to cut the cash rate by 25bp at each of its May, July and August meetings this year.
Please note the next ANZ-Roy Morgan Australian Consumer Confidence report will be released on Wednesday 23 April due to the Easter public holidays.
Check out the latest results for our weekly surveys on Business Confidence, Consumer Confidence, and Voting Intention as follows:
Roy Morgan Business Confidence Statistics
ANZ – Roy Morgan Consumer Confidence Statistics
Federal Voting – Government Confidence Rating
Related Research Reports
The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more
Consumer Confidence – Monthly Detailed Report in Australia.
Business Confidence – Monthly Detailed Report in Australia.
Consumer Banking Satisfaction - Monthly Report in Australia.
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Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
| Sample Size | Percentage Estimate |
| 40% – 60% | 25% or 75% | 10% or 90% | 5% or 95% | |
| 1,000 | ±3.0 | ±2.7 | ±1.9 | ±1.3 |
| 5,000 | ±1.4 | ±1.2 | ±0.8 | ±0.6 |
| 7,500 | ±1.1 | ±1.0 | ±0.7 | ±0.5 |
| 10,000 | ±1.0 | ±0.9 | ±0.6 | ±0.4 |
| 20,000 | ±0.7 | ±0.6 | ±0.4 | ±0.3 |
| 50,000 | ±0.4 | ±0.4 | ±0.3 | ±0.2 |
