Consumers have remained upbeat, despite confidence falling to its lowest level in 10 months.
The ANZ-Roy Morgan Consumer Confidence monthly index declined 7 points to 125 point 5 in August.
A reading above 100 indicates optimism.
ANZ economists say consumers remain positive but are more cautious about the future amid signals the economy is cooling.
The bank's composite gauge, which combines the consumer and business confidence surveys, indicate economic growth of 5 percent, which ANZ's economists say is far too optimistic.