Consumer confidence increased 1.3 per cent last week, its sixth straight gain. With the reopening of Greater Sydney and the imminent end of Melbourne’s lockdown earlier than anticipated, confidence rose in the major cities of Sydney, Melbourne, Brisbane and Perth.
The subindices registered mixed results. ‘Current financial conditions’ softened 0.1 per cent, while ‘future financial conditions’ gained 1.4 per cent.
‘Current economic conditions’ rose 4.5 per cent, its third consecutive weekly gain. ‘Future economic conditions’ remained unchanged.
‘Time to buy a major household item’ improved 0.6 per cent. ‘Weekly inflation expectations’ was unchanged at 4.7 per cent and its four-week moving average was steady at 4.8 per cent.