Consumer confidence dipped in October as people fret about the future.
The ANZ Roy Morgan consumer confidence index fell to 115.4 in October from 117.6 in September. People's optimism about their present situation lifted slightly to 122.0 from 120.2 but the future conditions index fell to 111.0 from 115.9, the lowest since late 2015.
"Consumers are feeling good about the here and now, but concerns about the future are clearly growing. Consumers haven't been this pessimistic about their own and their family's financial outlook one year ahead since mid-2012," said ANZ chief economist Sharon Zollner.
Perceptions regarding the next year's economic outlook fell 5 points to a net 1 per cent expecting conditions to deteriorate versus a net 4 per cent expecting an improvement in the prior survey. The five-year outlook fell 4 points to positive 14 per cent.
A net 11 per cent say they were better off now than a year ago versus a net 12 per cent in the prior survey. A net 20 per cent expect to be better off financially this time next year, down 7 points.