Consumer confidence is unchanged this month, according to the ANZ Roy Morgan survey, as a more positive view of the economic outlook offset a more cautious view of respondents' own positions.
ANZ chief economist Cameron Bagrie said the trend still looked to be one of modest improvement, but the survey's indicators of current conditions - the key bellwether of tomorrow's spending - remained subdued.
The bank's composite growth indicator, which combined readings from the consumer confidence survey with indicators from the National Bank business outlook survey, was flagging 2.1 per cent growth, Bagrie said.
That was respectable but hardly stellar, he said, and subdued compared with past recoveries from recession.
Respondents' views of the economic outlook 12 months and five years ahead both improved.
