Consumer confidence rose 1.7 per cent last week after a 4.9 per cent jump the week before. Confidence is now at its highest since early June, but remains well below the neutral level of 100.
• ‘Weekly inflation expectations’ dropped 0.3ppt to 5.5 per cent, while the fourweek moving average decreased 0.1ppt to 5.6 per cent.
• Four of the five subindices improved. ‘Current financial conditions’ fell 3 per cent after a 5.4 per cent rise the week before. ‘Future financial conditions’ rose 1.4 per cent.
• ‘Current economic conditions’ jumped 8.4 per cent, to its highest level since the of end May. ‘Future economic conditions’ were practically unchanged with an increase of 0.1 per cent.
• ‘Time to buy a major household item’ rose 2.4 per cent after three straight weeks of decline.