Confidence dips on North Korea tensions

Increased tensions around North Korea and concerns over subdued wage growth are likely to have dragged consumer confidence down in the past week.

Consumer confidence has fallen below its long-run average, likely due to tensions around North Korea and concerns over subdued wage growth.

The latest ANZ-Roy Morgan Consumer Confidence Index fell 1.8 per cent to 111.7 in the week to August 13, dipping below the low-term average of 112.9.

Three out of the five sub-indices posted declines, with consumer sentiment towards current economic conditions down six per cent on the back of the prior week's more than 10 per cent fall.