Consumer confidence rises for 6th straight week

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From ANZ Research:

Six weeks of gains in consumer confidence

  • Consumer confidence increased 1.3% last week, its sixth straight gain. With the reopening of Greater Sydney and the imminent end of Melbourne’s lockdown earlier than anticipated, confidence rose in the major cities of Sydney, Melbourne, Brisbane and Perth.
  • The subindices registered mixed results. ‘Current financial conditions’ softened 0.1%, while ‘future financial conditions’ gained 1.4%.
  • ‘Current economic conditions’ rose 4.5%, its third consecutive weekly gain. ‘Future economic conditions’ remained unchanged.
  • ‘Time to buy a major household item’ improved 0.6%. ‘Weekly inflation expectations’ was unchanged at 4.7% and its four-week moving average was steady at 4.8%.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.