Consumer confidence jumped 4.9 per cent last week, completely reversing the drop following the RBA’s August rate hike. Confidence is the highest it has been since late June.
• ‘Weekly inflation expectations’ increased 0.2ppt to 5.8 per cent, though the fourweek moving average was unchanged at 5.7 per cent.
• All the confidence subindices improved except ‘Time to buy a major household item’, which dropped 0.5 per cent.
• ‘Current financial conditions’ rose 5.4 per cent. ‘Future financial conditions’ gained 8.2 per cent from the week before and moved back above 100 and into net positive territory for the first time since late May.
• ‘Current economic conditions’ bounced 13.8 per cent, to its highest level since early June. ‘Future economic conditions’ lifted 0.6 per cent.