Consumer confidence rose 1.8 per cent, its third-straight weekly gain. Among the mainland states, confidence increased in Victoria, Queensland and Western Australia, while it declined in New South Wales and South Australia.
‘Weekly inflation expectations’ dropped 0.1 percentage points to 6.2 per cent, while its four-week moving average also fell 0.1ppt to 6.5 per cent.
The subindex results were mixed. ‘Current financial conditions’ jumped 9 per cent, partially making up for the 12.3 per cent net drop over the previous eight weeks. ‘Future financial conditions’ were up 2.8 per cent.
‘Current economic conditions’ dropped by 0.3 per cent. ‘Future economic conditions’ gained 0.3 per cent, its third consecutive gain. ‘Time to buy a major household item’ fell 2 per cent after a 9.2 per cent jump the week before.