Confidence gained 1 per cent last week, recovering a bit more than half the loss seen in the prior survey. The bounce was primarily due to strength in the economic conditions subindices, which is not surprising given these were the aspects of the survey that fell sharply in last week’s report.
Current economic conditions gained 6.1 per cent after the fall of 12.9 per cent in the previous reading, while the future economic conditions figure almost reversed its previous loss by gaining 8.6 per cent.
Current finances declined by 5.5 per cent, dropping to its lowest level since June, while future finances gained 0.6 per cent for the third-consecutive increase.
The four-week moving average of ‘inflation expectations’ was down by 0.1 percentage points to 3.9 per cent.