Consumer confidence declined 2.5 per cent last week, as a seven-day COVID lockdown was announced in Victoria on May 27. Counterintuitively, confidence was down by more in Sydney and Brisbane than it was in Melbourne. All of the confidence subindices fell.
'Current financial conditions' fell by 3.0 per cent, while 'future financial conditions' softened 2.4 per cent. 'Current economic conditions' lost 0.5 per cent and 'future economic conditions' dropped 4.0 per cent.
'Time to buy a major household item' weakened 2.6 per cent. 'Weekly inflation expectations' increased by 0.2 percentage points to 3.9 per cent, pushing the four-week moving average up 0.1 percentage points to 3.8 per cent.
ANZ - Australia & New Zealand Banking Group Ltd. published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 00:41:03 UTC.