Aussies less confident in economy after rate cut: ANZ

CONSUMER confidence fell over the weekend, an ANZ survey suggests, as people appeared to view the latest cut to the cash rate by the Reserve Bank of Australia as a signal of worsening economic conditions.

The ANZ-Roy Morgan Australian Consumer Confidence index dipped 1.1 per cent from the previous week, with respondents' perception of the economy - including the outlook for the next 12 months - retreating 3.6 per cent and prospects about conditions in the next five years sliding 1.7 per cent.

But the weekly measure of sentiment, which is based on about 1,000 face-to-face interviews conducted on Saturdays and Sundays, recorded a 3.7 per cent rise in how people felt about their financial condition compared to a year ago and a 1.3 per cent increase regarding their finances over the next 12 months.


New cafe promises good brew, banter and bikes

Premium Content New cafe promises good brew, banter and bikes

Owners turned a deserted building in Airlie Beach into a mecca for meeting new...

Town to honour fallen for years to come at new memorial

Premium Content Town to honour fallen for years to come at new memorial

The new Proserpine cenotaph was given a funding injection by the Federal...

Large croc spotted at Sarina twice in two days

Premium Content Large croc spotted at Sarina twice in two days

WARNING: One resident was wary after hearing a ‘distinctive growling sound’