Consumer confidence at a new year high

Consumer confidence rose 3.6 points last week to 87.5 points. The four-week moving average lifted 0.5 points to 86.3 points.

‘Weekly inflation expectations’ rose 0.3 percentage point to 5.1 per cent, while the four-week moving average was unchanged at 4.8 per cent.

‘Current financial conditions’ (over the last year) lifted 2.4 points and ‘future financial conditions’ (next 12 months) jumped 5.7 points.

‘Short-term economic confidence’ (next 12 months) increased 0.7 points, while ‘medium-term economic confidence’ (next five years) rose 2.0 points.

The ‘time to buy a major household item’ subindex bounced 7.2 points.

"ANZ-Roy Morgan Australian Consumer Confidence jumped 3.6 points in the first week of 2025," ANZ Economist, Madeline Dunk said. 

"While it is not unusual for a confidence boost in the first week of the year, this represented a top-three result since the beginning of 2023.

"The ‘time to buy a major household item’ subindex recorded its third highest reading since June 2022, though was below the Black Friday peak.

"We expect the upward momentum in ANZ-Roy Morgan Consumer Confidence to continue through 2025, as tax cuts, rising real wages and eventually rate cuts support household disposable incomes. ANZ Research expect the first Reserve Bank of Australia rate cut in May 2025."

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