Consumer confidence increased slightly by 0.7 per cent last week after a 0.2 per cent increase the week before. Among the mainland states, confidence improved in NSW, Victoria, SA and WA, while it dropped in Queensland.
• ‘Weekly inflation expectations’ rose 0.2ppt to 6.0 per cent, while its four-week moving average remained steady at 5.9 per cent.
• The confidence subindices’ performance was mixed. ‘Current financial conditions’ rebounded 6.9 per cent after a 17 per cent drop over the previous 10 weeks. ‘Future financial conditions’ were down 2.1 per cent.
• ‘Current economic conditions’ edged lower by 0.4 per cent after a 4 per cent increase the week before. ‘Future economic conditions’ dropped 3.9 per cent.
• ‘Time to buy a major household item’ gained 5.2 per cent after a 10.7 per cent loss over the previous three weeks.