Australia's transition away from resources-led growth has taken a toll on the country's households and economy, but the chief of Wesfarmers believes that confidence down under is holding up.
"[Consumer confidence] is pretty good at the moment... consumers have fuel price [and] interest rates decreases, and housing prices have moved up, particularly in Sydney and Melbourne," Richard Goyder, CEO of one of the country's largest retailers, told CNBC's "Managing Asia."
The widely-watched consumer sentiment index published by Westpac Banking and Melbourne Institute has been in negative territory for 11 of the past 12 months, highlighting consumer pessimism as Australia struggles to rebalance away from a focus on mining.
Meanwhile, data this month showed the economy expanded 2.5 percent for all of 2014, slowing from 2.8 percent in 2013. In February, the unemployment rate ticked down slightly to 6.3 percent but remained near a 12-year high.
But Goyder isn't worried: "The Australian economy is in a pretty sound position."
"If people are worrying about unemployment, then confidence can deteriorate quickly [but...] I think the economy is pretty resilient," the 54-year-old said. "With the falling currency, and as [states like] New South Wales move along a bit, I don't think that it is a big risk."