The post election glow has worn off, with consumer sentiment slumping to a five-month low.

Consumer sentiment fell by 4.8 per cent to 105.0 points in December, from 110.3 in November, according to the Westpac Melbourne Institute Index of Consumer Sentiment.

It was the lowest level of the index since July, Westpac chief economist Bill Evans said.

“It appears that the boost in confidence partly associated with the election result and booming house prices has faded in December,” Mr Evans said.

“In particular, confidence around the economic outlook has faltered.”

Confidence around the labour market wasn’t much better, Mr Evans said, with a 4.6 per cent increase in consumers expecting unemployment to rise.

“It is likely that news on job losses in high profile companies such as Qantas and Holden may have unnerved respondents while media coverage of rising fixed mortgage rates may also have been a factor in the sharp swing in assessments of interest rate news from favourable to unfavourable,” Mr Evans said.

Mr Evans said it was clear Australians were nervous about their jobs.

“Despite a significant boost to economic confidence immediately following the election, respondents remained unsettled about job security,” he said.

AAP