Cosumer confidence edged up a touch last week, reversing the prior week’s decline. It remains well below average.
Overall financial conditions were little changed, with offsetting moves in ‘current’ and ‘future’ finances.
We also saw offsetting moves in economic conditions. ‘Current economic conditions’ gained 2.1 per cent, while ‘future economic conditions’ declined 2.5 per cent lastweek.
‘Time to buy a major household item’ gained 2.7 per cent compared to a decline of 2.4 per cent previously. The four-week moving average of ‘inflation expectations’ was up by 0.1 percentage points to 4.0 per cent.
The weekly reading rose to 4.2 per cent, its highest level since early September, perhaps reflecting the lift in headline inflation reported in the December 2019 CPI report.