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%.