By Swati Pandey and Rebecca Howard
SYDNEY/WELLINGTON, Feb 2 (Reuters) - Australian shares slipped on Tuesday led by losses in resources and industrial stocks following downbeat manufacturing data from the world's two biggest economies and poor consumer confidence numbers at home.
Chinese and U.S. manufacturing figures released Monday, which showed factory activity has been contracting at a faster rate than economists had expected, rocked investor confidence in the global growth outlook. Falling crude oil prices also pressured investors.
The S&P/ASX 200 index .AXJO eased 27.59 points, or 0.6 percent, to 5,016.00 by 0157 GMT. The benchmark rose nearly 1 percent in the last session, having touched its highest level in four weeks.
"I think everyone is very keen to see if Australian companies, operating in a relatively healthy economy, are able to perform better than their American counterparts in that regard," said Chris Conway, Head of Research at Australian Stock Report.
"If they can't, and further cost-cutting is they're only saving grace, then it could be a tough period."
The ANZ-Roy Morgan consumer confidence index fell 0.9 percent in the week ending Jan. 31, the first negative start to the year since 2008.
Investors also awaited the outcome of the Reserve Bank of Australia's policy meeting, expected at 0330 GMT. All 32 economists polled by Reuters predicted that the central bank will hold interest rates steady at a record low of 2.0 percent, where they have stood since May 2015.
Mining giant BHP Billiton (L:BLT) BHP.AX fell as much as 1.6 percent while rival Rio Tinto (L:RIO) RIO.AX skidded 1.8 percent after ratings agency Standard & Poor's lowered the credit ratings of BHP and put it on negative watch while it placed Rio Tinto on watch negative, both actions due to challenging market conditions for commodities. of Australian gold miners OceanaGold Corp OGC.AX , Northern Star Resources Ltd NST.AX rose between 4.3 pct and 9.7 percent. shares such as Woodside Petroleum WPL.AX and Origin ORG.AX slipped 2.5 percent and 3.4 percent each.
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New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.2 percent or 11 points to 6,185.68 on Tuesday.
The biggest gainers were Fletcher Building FBU.NZ , up 1.7 percent after it bought Higgins Group Holdings, New Zealand's third-largest road construction and maintenance company.
Ryman Healthcare RYM.NZ added 1.5 percent while Xero XRO.NZ was down 1.5 percent.
In New Zealand, investors will be watching for Wednesday's fourth quarter labour data for any clues on whether the central bank might cuts rates again in March. A speech by central bank Governor Graeme Wheeler will also garner attention.