Confidence was down 1.5 per cent last week following a decline of 1.1 per cent the previous week. All of the confidence sub-indices were down, with the exception of a flat ‘time-to-buy’ reading.
Current finances declined by 2.7 per cent, while future finances dropped by 1.5 per cent. This compares to up-ticks of 3.7 per cent and 1.3 per cent respectively for the previous week.
The economic conditions sub-indices were also down; with current economic conditions falling 1 per cent and future economic conditions dropping by 2.6 per cent. This week’s moderation comes on the back of falls of 3.6 per cent and 1.7 per cent respectively last week.
The ‘time to buy a major household item’ index was unchanged and the four-week moving average for inflation expectations was flat at 4 per cent.