Consumer confidence has dipped this month, the ANZ-Roy Morgan survey found, though it remains higher than for most of the post-recession period.
The survey's overall index dropped five points to 124.
"We're not reading too much into that. A five-point move is well within the bounds of normal monthly noise and volatility. The level of confidence remains elevated," said ANZ chief economist Cameron Bagrie.
It was interesting that lower interest rates, higher house prices, lower petrol prices and relatively plentiful jobs had not yet engendered the usual response.
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"Extra money in the pocket is more likely to be saved than spent," Bagrie said, "Households are no longer using house price gains as an ATM."
A net 6 per cent of respondents consider themselves better off financially than a year ago, down from a net 10 per cent in January, and a net 28 per cent expect to be better off in a year's time, down from 33 per cent last month.
A net 40 per cent of respondents rate it a good time to buy a major household item, down from a net 44 per cent last month.
Expectations for the economy as a whole have also slipped - a net 24 per cent expecting good times over the next 12 months and a net 22 per cent over the next five years, down from a net 29 per cent for both indicators last month.
Auckland and Wellington showed the largest falls in confidence, though Auckland remains the most confident region.