Consumer confidence gained 0.4 per cent last week, its seventh-straight weekly gain. A strong rise of 5.8 per cent in ‘time to buy a household item’ supported the index, with aggregate financial and economic conditions easing last week.
Aggregate financial conditions eased as the 0.8 per cent gain in ‘current financial conditions’ was not enough to offset the 2.1 per cent drop in ‘future financial conditions’. This drop came after five straight gains.
Similar to the direction of the financial conditions components, ‘current economic conditions’ gained 0.4 per cent while ‘future economic conditions’ declined 1.7 per cent.
The four-week moving average of ‘Inflation expectations’ remained stable at 3.5 per cent.