Consumer confidence has strengthened further, with all the sub-indices gaining compared to the previous reading. The nine-week run is the most extended run of consecutive gains since the index changed to a weekly format in 2008.
Confidence in economic conditions gained substantially, with ‘current economic conditions’ up 15.7 per cent and ‘future economic conditions’ up 7.5 per cent.
‘Current finances’ gained 0.6 per cent, while ‘future finances’ gained 0.2 per cent to sit just 2.1 per cent below the long-run average.
‘Time to buy a major household item’ rose 10.9 per cent, its fourth-straight gain.
The four-week moving average for ‘inflation expectations’ was stable at 3.3 per cent.