Consumer confidence fell slightly by 0.5 per cent after three consecutive weeks of gains. Among the mainland states, confidence increased in NSW and SA, while it declined in Victoria, Queensland and WA.
‘Weekly inflation expectations’ dropped 0.4ppt to 5.8 per cent, while its four-week moving average fell 0.3ppt to 6.2 per cent.
The subindex results were mixed. ‘Current financial conditions’ plunged 6.2 per cent, after a 9 per cent jump the week before. ‘Future financial conditions’ dropped 1.9 per cent, partly offsetting the 2.8 per cent gain from the previous week.
‘Current economic conditions’ rebounded 4.9 per cent, after a 2.8 per cent fall over the previous two weeks. ‘Future economic conditions’ declined 2.9 per cent, after three straight weeks of gains.
‘Time to buy a major household item’ jumped 5.2 per cent.