Consumer confidence gained 1.6 per cent last week and is now at a six-month high, just below neutral levels. All the subindices rose.
‘Current financial conditions’ gained 3.5 per cent, while ‘future financial conditions’ gained 1.2 per cent.
Following a similar pattern, ‘current economic conditions’ lifted 2.6 per cent, its third-straight weekly increase, while ‘future economic conditions’ gained 1.1 per cent.
‘Time to buy a household item’ rose 0.4 per cent. The four-week moving average of ‘inflation expectations’ edged lower by 0.1 percentage points to 3.4 per cent; the weekly reading saw a sharp fall of 0.5 percentage points to its lowest-ever level of 3 per cent.