Consumer confidence fell last week after federal budget tax cuts apparently failed to cheer Australians, ANZ analysts say.
The ANZ-Roy Morgan Australian Consumer Confidence index slid by 1.3 per cent from the previous week, with the "time to buy a household item" metric tumbling 7.4 per cent.
"The fall in confidence last week would be seen as disappointing in Canberra given the near-term boost to household incomes delivered in the budget," ANZ economist David Plank said.
The weekly measure of consumer sentiment, which is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, had increased 2.6 per cent in the weekend before the budget was announced.
The results of the latest survey suggested the government's fiscal outlook "failed to provide a boost" in confidence rather than being an indication that people felt negative about the budget, Mr Plank said.
