Consumer confidence declined slightly by 0.3 per cent last week, after a 6.3 per cent increase over the past three weeks. Among the major states, confidence rose in NSW, Queensland and SA, while it dropped in Victoria and WA.
• ‘Weekly inflation expectations’ dropped 0.2ppt to 5.1 per cent, while its four-week moving average dropped 0.3ppt to 5.5 per cent.
• The confidence subindices registered mixed results. ‘Current financial conditions’ increased by 3.1 per cent, while ‘future financial conditions’ fell 2.2 per cent.
• ‘Current economic conditions’ rose 1.0 per cent, its fifth straight weekly gain. ‘Future economic conditions’ decreased by 3.9 per cent.
• ‘Time to buy a major household item’ gained 1.1 per cent, rising 8.7 per cent over the past four weeks.