Consumer confidence has taken a step back amid concerns about household finances.
Confidence fell 0.8 per cent among consumers in the final week of August as pessimism about the financial situation of households increased.
The fall offset a small gain the previous week, which was fuelled by low interest rates and rising house prices.
But the ANZ/Roy Morgan weekly consumer confidence survey remains around its long-term average and has recovered from the sharp decline that followed the federal budget in May.
ANZ chief economist Warren Hogan said consumer confidence has stabilised.
"Consumer confidence appears to have stabilised around long-run average levels supported by low interest rates and rising house prices," he said.
"Alongside the improvement in non-mining investment intentions, it appears that the growth drivers in the non-mining sectors of the economy are broadening."
Share
