Consumer confidence increased 3.3 per cent last week, its biggest weekly gain since early April 2021. The lift was felt across the country, with Queensland gaining the most.
‘Weekly inflation expectations’ rose 0.2ppt to 5.0 per cent, but its four-week moving average remained at 4.9 per cent.
‘Current financial conditions’ gained 6.6 per cent after a loss of about 9.5 per cent in the two weeks before last week. ‘Future financial conditions’ were up 2.1 per cent.
‘Current economic conditions’ rose 9.3 per cent, reaching its highest since mid- December 2021. ‘Future economic conditions’ however eased by 0.1 per cent.
‘Time to buy a major household item’ softened 0.2 per cent.