Consumer confidence drops to 12 month low

Publish Date
Monday, 20 October 2014, 4:45PM

Consumer confidence has dropped to a 12 month low .

The latest ANZ-Roy Morgan survey shows that's mainly linked to people's sentiment about the performance of the the economy over the next five years.

ANZ chief economist Cameron Bagrie says current conditions remain cheery, households still feel better off financially and they still consider it a great time to buy a major household item.

"The waning in consumer sentiment is not consistent at all with the notion that the wheels are starting to fall of this economy.

"It's more consistent with an economy that's sort of slowing from a gallop to a cantor

"Under the bonnet things still look reasonably robust."

Source: Newstalk ZB