Consumer confidence dropped 3.5 per cent last week, as Sydney, Victoria and South Australia remained under a lockdown, with cases rising in Sydney despite the tightened restrictions.
All the subindices registered a fall, but the ones that capture current conditions fell furthest. Most notably, 'current economic conditions' dropped 6 per cent. 'Current financial conditions' declined 3.4 per cent.
'Future economic conditions' lost a more modest 0.5 per cent. 'Future financial conditions' softened 1.2 per cent.
'Time to buy a major household item' dropped 6.6 per cent to its lowest level since mid-October 2020. 'Weekly inflation expectations' increased by 0.1ppt to 4.3 per cent, its highest level since late March 2020, with the four-week moving average steady at 4.1 per cent.
ANZ - Australia & New Zealand Banking Group Ltd. published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 23:59:13 UTC.