Consumer confidence rose sharply amid the receding Brisbane lockdown and announcment of the Trans-Tasman travel bubble.
Headline consumer confidence shot past its long-run average value to 114.1 with a gain of 5.9 per cent, reaching its highest value since September 2019.
‘Current financial conditions’ took a huge leap of 8.3 per cent, while ‘future financial conditions’ rose 4.8 per cent. ‘Current economic conditions’ gained 7.1 per cent and ‘future economic conditions’ jumped 4.5 per cent. All of these four indices more than made up for the points lost last week.
‘Time to buy a major household item’ improved 5.7 per cent. ‘Weekly inflation expectations’ rose 0.2 per cent to 3.9 per cent, its highest level since the early stages of the pandemic, but the four-week moving average remained steady at 3.8 per cent.