Confidence jumped by 4 per cent in one of the largest increases in a year. On an absolute level, the index is at a two-month high.
Financial conditions indices were mixed with current finances down 2.2 per cent, while future financial conditions rose 1.0 per cent.
Economic conditions were up by a healthy margin. Current economic conditions gained 13.3 per cent after falling for three consecutive weeks. Future economic conditions also showed strength, gaining 7.0 per cent, a rise that came after four straight weekly losses.
The ‘time to buy a major household item’ was up 3.2 per cent, taking it close to the levels seen last July. The four-week moving average for inflation expectations was stable at 3.9 per cent, although the weekly reading fell to 3.7 per cent.