- After two straight weekly gains, consumer confidence fell by 2.3% last week. All the subindices were in the negative except ‘Future economic conditions’.
- Current financial conditions were down by 4.3%, while future financial conditions fell 1.9%. Despite the fall, both the components are comfortably above their long-run average.
- Economic conditions were mixed, with current economic conditions taking a big hit of 6.1% and more than reversing the prior week’s big jump, while future economic conditions gained 3.8%.
- The ‘time to buy a major household item’ index fell 2.6%. The four-week moving average for inflation expectations was down by 0.1ppt to 4.0%, and the weekly reading, which was showing signs of stability, tumbling to 3.7%.
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