Confidence gained for the eighth straight week and is up 42 per cent from its low point in March, when fears about the pandemic were at the most extreme.
Financial conditions indices diverged. ‘Current finances’ declined 1.8 per cent, while ‘future finances’ gained 3.2 per cent and is now only a touch below average.
Economic conditions indices also diverged with ‘current economic conditions’ gaining 0.3 per cent, while ‘future economic conditions’ declined 2.4 per cent.
‘Time to buy a major household item’ strengthened further, up 2.5 per cent. The four-week moving average for ‘inflation expectations’ declined 0.1 per centage point to 3.3 per cent, a new historic low.