The boost that consumer confidence got after the federal budget is starting to wear off, as households fret about their financial futures.
The ANZ-Roy Morgan consumer confidence index fell 1.2 per cent last week, but is still 10 per cent higher than a year ago.
ANZ chief economist Warren Hogan said it's disappointing that consumer confidence is not getting the sustained lift it needs to give the economy and spending a boost.
"If confidence proves unable to sustain the recent bounce, growth in consumer spending looks set to stay in the doldrums," he said.
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