Consumer confidence has strengthened for a third-straight week, rising 7.7 per cent. The gain was broadly based, except ‘current finances’ which declined 2.6 per cent.
‘Future financial conditions’ gained 6.6 per cent, in contrast to the fall in ‘current finances’. The subindex has been in a positive territory for the last four weeks.
‘Current economic conditions’ gained 9.6 per cent, for the third week straight, while 'future economic conditions’ rose 6.7 per cent.
‘Time to buy a major household item’ saw a big gain of 21.5 per cent, while the four-week moving average for ‘inflation expectations’ fell 0.2 percentage poimt to 3.8 per cent. The weekly reading dipped to 3.1 per cent, the lowest in the history of the survey.