The Paris terror attacks and worries about personal finances have hurt consumer confidence.
The latest ANZ-Roy Morgan weekly consumer confidence index is down 1.2 per cent to 114.6 points in the week to November 22, but it is still above the 2014 average of 111 points.
ANZ's co-head of economics Cherelle Murphy said the fall last week could have been because of the attacks in Paris but some economic indicators are helping support confidence.
"This is likely a reflection of the current momentum in the jobs market, where opportunities in the services sectors appear to be rising," she said.
The unemployment rate fell to a six month low of 5.9 per cent in October, from 6.2 per cent in September.
However Ms Murphy warned that household finances face some challenges in the coming month because of continued weak wages growth and signs the housing market is softening, as well as concerns about terror.
The ANZ index showing consumers' view about their future finances fell 4.7 per cent last week, which more than offset the rise the previous week.
CommSec chief economist Craig James said worries about personal finances could have ramifications for the economy in the coming months.
"That is important because this tends to drive consumer spending," he said.
"Aussie consumers remain a little uncertain about the short and medium-term economic outlook but that is understandable at present with housing taking over the driving role from the mining sector."
