Consumer confidence rose 1.2 per cent, more than reversing the previous week’s loss and continuing the index’s recent sawtooth pattern.
The gains have been a little more than the losses so the index reached its 2020 high last week.
‘Current finances’ gained 2 per cent, while ‘future finances’ fell marginally by 0.1 per cent. ‘Current economic conditions’ registered a healthy gain of 6.5 per cent compared to a fall of 4.1 per cent seen in the previous week, while ‘future economic conditions’ were flat.
‘Time to buy a major household item’ fell 0.9 per cent, adding to the loss of 5 per cent seen in the previous reading. The four-week moving average for ‘inflation expectations’ fell by 0.1 percetnage point to 4.0 per cent, while the weekly reading remained stable.