United States recession fears have shaken the confidence of Australian consumers.
The latest ANZ-Roy Morgan Australian Consumer Confidence report showed a drop of 3.4 points last week to 85.9 points, with the four-week moving average falling to 87.3 points.
ANZ Economist Sophia Angala said confidence had eased to its lowest level since mid-June.
“The decline was broad-based and included the weakest medium-term economic confidence in the last 15 years,” Ms Angala said.
She said short-term economic confidence also fell to its fifth weakest result in 2025, out of 37 results this year.
“Recession concerns in the US following a deterioration in labour market data may have supported this.
“However, local forward-looking indicators such as ANZ-Indeed Job Ads point to a resilient labour market and economy in Australia.”
Ms Angala said renter confidence, on a four-week moving average basis, had been on an uptrend and hit its third-strongest result since early 2023.
“(However) outright owner and mortgage-holder confidence have both dropped sharply in the last few weeks.”
