Consumer confidence has increased by 0.4 per cent, almost reversing a small decline recorded in the previous week. Across the major states, confidence increased in New South Wales, Queensland, South Australia and Western Australia, while it dropped in Victoria.
'Weekly inflation expectations’ jumped 0.3 percentage points to 5.6 per cent, while the four-week moving average was steady at 5.4 per cent.
The confidence subindices results were mixed. ‘Current financial conditions’ fell 4.8 per cent, more than offsetting the 4.2 per cent gain over the previous three weeks. ‘Future financial conditions’ climbed 4.5 per cent.
'Current economic conditions’ dropped 2.8 per cent, its second-straight weekly decline. ‘Future economic conditions’ increased just 0.1 per cent. The ‘time to buy a major household item’ index rose 3.7 per cent, its third-consecutive weekly gain.