Consumer confidence increased by 1.4 per cent last week. Among the major states, confidence rose in New South Wales, Queensland and Western Australia, while it dropped in Victoria and South Australia.
‘Weekly inflation expectations’ increased 0.1ppt to 4.9 per cent, while its fourweek moving average was unchanged at 4.8 per cent.
Four of the five confidence subindices registered gains. ‘Current financial conditions’ increased by 2.1 per cent and ‘future financial conditions’ rose 1.9 per cent.
‘Current economic conditions’ rose 1.0 per cent and ‘future economic conditions’ jumped 3.8 per cent.
‘Time to buy a major household item’ bucked the trend, dropping 1.5 per cent.