Consumer confidence fell 0.6 per cent last week, even as Victoria emerged from its brief circuit-breaker lockdown. The details were mixed – confidence around economic conditions improved, but weakened around financial conditions and time to buy household items.
‘Current financial conditions’ softened 0.1 per cent, while ‘future financial conditions’ weakened 0.2 per cent. ‘Current economic conditions’ was unchanged and ‘future economic conditions’ gained 1.6 per cent.
‘Time to buy a major household item’ declined by 3.9 per cent, its largest weekly drop since August 2020. The four-week moving average for inflation expectations was steady at 3.7 per cent.