Consumer confidence declined almost 2 per cent last week, with weakness in all the subindices. This was the fifth decline in a row and the largest weekly decline in a month.
‘Current finances’ declined by 0.1 per cent after three-straight weeks of gains. ‘Future finances’ fell 1.6 per cent, its third-straight weekly decline.
‘Current economic conditions’ declined for the sixth straight week, falling 2.4 per cent, while ‘future economic conditions’ fell 0.8 per cent.
‘Time to buy a household item’ also deteriorated, falling 4.2 per cent. ‘Inflation expectations’ gained 0.1 percentage point to 3.4 per cent (four-week moving average).