Consumer confidence rose 0.9 per cent last week, the fourth consecutive week of small gains. Confidence increased in Sydney, Melbourne and regional South Australia, while it fell in Adelaide, Brisbane and Perth.
Three of the five confidence subindices improved. ‘Current financial conditions’ gained 2.2 per cent, while ‘future financial conditions’ softened 0.3 per cent.
‘Current economic conditions’ rose 2.1 per cent and ‘future economic conditions’ were up 4.2 per cent.
‘Time to buy a major household item’ declined 3.2 per cent. ‘Weekly inflation expectations’ remained at the pandemic-high of 4.8 per cent. The four-week moving average was also steady at 4.7 per cent.