A couple of surveys recorded a reduction in the consumer confidence recently.

This is the second quarter that the Westpac McDermott Miller Consumer Confidence index has fallen in a row, decreasing by almost 6 points to down 108 over the past three months ended December, in the process achieving its lowest level since 18 months.

A rating more than 100 implies that the number of optimists is more than that of pessimists.

According to a Westpac senior economist, Donna Purdue, the decrease in the confidence is widespread to all the different income groups, ages and regions.

Also, the ANZ-Roy Morgan Consumer Confidence Index decreased by a couple of points down to 112 for the month of December, thereby attaining its lowest level since last year’s July.

According to the chief economist of ANZ Bank, Cameron Bagrie, the incomes are increasing and the costs of commodity are still robust. Still the people are decreasing their debts while the housing market is still not going strong.