The latest ANZ–Roy Morgan Consumer Confidence survey shows Australian consumer sentiment remains extremely weak, despite a modest week‑on‑week improvement driven by temporary fuel excise relief. At 62.3, confidence remains among its lowest levels on record, reflecting ongoing cost‑of‑living pressures, high interest rates and elevated geopolitical risk. A majority of households continue to report deteriorating financial conditions, and expectations for economic conditions over the next 12 months remain pessimistic in absolute terms.
This subdued confidence aligns with broader macroeconomic conditions characterised by tightening monetary policy, elevated energy prices linked to Middle East tensions and increased market volatility. While inflation expectations have eased marginally, they remain elevated, and household consumption growth is expected to slow through 2026.
Against a backdrop of equity market volatility, the domestic private credit industry emerges as a constructive option in a portfolio. At Aura Private Credit, we are positioned to absorb shocks in the wider economy, prioritising the preservation of investor capital. Subdued consumer confidence, tighter monetary conditions and increased market volatility are expected to reduce risk appetite and competitive pressure across the sector. These conditions tend to improve pricing and overall deal quality for well‑capitalised managers. With a focus on asset‑backed lending, conservative underwriting and capital preservation, the investment team is well-positioned to selectively deploy capital and target attractive risk‑adjusted returns as volatility persists.
Source: Roy Morgan, ANZ-Roy Morgan Consumer Confidence, Australia, April 2026.