Consumer confidence has strengthened for the fourth week running, though the gain of 1 per cent was much smaller than over the prior three weeks.
Reflecting this loss of momentum, the performance of the sub-indices was mixed. ‘Current finances’ gained 0.4 per cent, while ‘future finances’ fell 3.3 per cent, the first decline after four straight weekly gains.
‘Current economic conditions’ strengthened by 13 per cent for its fourth-straight weekly gain, while ‘future economic conditions’ declined 5.9 per cent.
‘Time to buy a major household item’ also saw its fourth straight weekly gain, up 8.2 per cent, while the four-week moving average for ‘inflation expectations’ fell 0.1 percentage points to its lowest ever level of 3.7 per cent, even though the weekly reading lifted to 3.6 per cent.