Consumer confidence gained 2.3 per cent last week, boosted partly by the Easter long weekend. Among the major states, confidence improved in NSW, Victoria, SA and WA, but dropped in Queensland.
‘Weekly inflation expectations’ dropped 0.5ppt to 5.3 per cent, its lowest level since 6 March. Its four-week moving average dropped 0.2ppt to 5.8 per cent.
All the confidence subindices registered gains for a third straight week. ‘Current financial conditions’ increased slightly by 0.3 per cent, while ‘future financial conditions’ rose 2.7 per cent.
‘Current economic conditions’ increased by 3.8 per cent, rising 16.1 per cent over the past four weeks. ‘Future economic conditions’ gained 2.9 per cent.
‘Time to buy a major household item’ increased 2.4 per cent.