Consumer confidence dips on unease

Consumer confidence retreated slightly at the weekend amid apparent unease at the state of the Australian economy, an ANZ survey suggests.

The ANZ-Roy Morgan Australian Consumer Confidence index dropped 0.3 per cent from the previous week, with respondents’ perception of the economy, including the outlook for the next 12 months, falling 4.3 per cent and sentiment about conditions during the next five years dipping 0.3 per cent.

But the weekly measure of consumer mood, which is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, recorded a 2.6 per cent rise in how people felt about their financial condition compared with a year ago and a 2.4 per cent increase regarding their finances over the next 12 months.

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