The ANZ consumer confidence index rose just 0.3 per cent to 112 in the week ending January 11, the latest in a series of flat consumer confidence figures that have cast doubt on the strength of the economy.

The ANZ figure follows a moderate rise of 1.4per cent last week, but leaves confidence below levels in late November, when it reached 114.8.

Falling consumer confidence is putting the economy's strength in doubt. Credit:Luis Ascui

ANZ consumer confidence is tracking just below the long-run average of 112.8.

"The lack of momentum in consumer confidence remains disappointing, especially given lower petrol prices and the usual seasonal uplift in January," ANZ chief economist Warren Hogan said. "Subdued levels of confidence, combined with soft retail sales in November and mixed anecdotes about December sales, suggest that households may be saving rather than spending the real income boost from lower petrol prices."