Growing concerns about what the future may bring are having a negative impact on consumer confidence, according to the ANZ-Roy Morgan Consumer Confidence Index.

The overall index dipped three points, taking it under the historical average, but individual indices reveal that consumer confidence is currently a mixed bag.

While the current conditions index lifted two points to 122, the future conditions index fell five points to 111, the lowest level measured since September 2015.

Data shows that consumers’ pessimism about the future has spread from being about the broader economy to their own future financial position.

“Indeed, consumers haven’t been this pessimistic about their own and their family’s financial outlook one year ahead since mid-2012, and this data series has only been below the current level of 20 per cent once since 2008,” a media release from ANZ-Roy Morgan said.

One positive sign is that households still think it’s a good time to buy a major household item, which suggests that consumers may not be feeling the need to rein in their spending just yet.

The economy is expected to continue to grow at a 2.5-3 per cent space, according to ANZ-Roy Morgan.