sydneyaustralian consumer confidence fell last week snapping a short period of recovery supported by the reserve bank of australias decision at the start of the month to keep interest rates on hold for the first time in nearly a year consumer confidence decreased by 21 points over the week according to a survey by the anz bank and pollster roy morgan the confidence reading was the seventhweakest result since the outbreak of covid19 in march 2020 said anz senior economist adelaide timbrell the retreat in confidence is also somewhat surprising as it comes amid news of a recovery in house prices and data showing the unemployment rate is at its lowest levels in close to 50 years confidence in the nearterm future declined the most with the survey showing a 55point drop in future financial conditions and a 12point drop in expectations of economic conditions over the next year the index for whether it is a good time to buy a major household item dropped to its lowest since april 2020 the weekly anzroy morgan australian consumer confidence rating is based on 1487 interviews conducted online and over the telephone during the week to sunday