18 Sep 2015

Consumer confidence holds steady after declines

2:18 pm on 18 September 2015

Consumer confidence has held steady, following recent declines.

The monthly ANZ Roy Morgan Consumer Confidence Index edged up 1 point to 110.8, due to fewer consumers feeling gloomy about their economic prospects in the coming year.

A reading over 100 indicates optimism.

The index has fallen 18 points this year as people fretted about the slowing economy.

But though they are upbeat about the economy, respondents are marginally less positive about their current financial position.

ANZ chief economist Cameron Bagrie says the economy is facing plenty of challenges such as lower dairy incomes and higher unemployment.

But he says falling interest rates and the lower dollar will help stimulate business.