Consumer confidence increased slightly by 0.9 per cent last week with the states registering varied movements, most likely based on local factors. Confidence rose in NSW, Queensland and SA, while it dropped in Victoria and WA.
‘Weekly inflation expectations’ fell 0.1ppt to 5.2 per cent, but its four-week moving average increased 0.1ppt to 5.2 per cent.
‘Current financial conditions’ increased a touch by 0.1 per cent, while ‘future financial conditions’ rose 2.9 per cent.
‘Current economic conditions’ declined 3.1 per cent, its third consecutive weekly fall. ‘Future economic conditions’ rose 2.2 per cent after a 6.1 per cent fall in the past three weeks.
‘Time to buy a major household item’ increased by 2.0 per cent.