Consumer confidence was practically unchanged last week, with a decrease of just 0.1 per cent. Among the major states, confidence increased in NSW, was unchanged in Victoria, and it dropped in Queensland, SA, and WA.
• ‘Weekly inflation expectations’ increased 0.2ppt to 5.5 per cent, while its fourweek moving average was unchanged at 5.3 per cent.
• Three out of the five confidence subindices increased. ‘Current financial conditions’ dropped 4.4 per cent, its third consecutive weekly decline. ‘Future financial conditions’ fell 5.5 per cent after a 6.1 per cent increase the week before.
• ‘Current economic conditions’ gained 1.5 per cent, while future economic conditions were up 3.7 per cent.
• ‘Time to buy a major household item’ rose 5.4 per cent, after a 4.5 per cent increase the previous week.