Australia and New Zealand Banking : Consumer confidence on the rise

Consumer confidence gained 1.1 per cent last week as the lockdowns in Victoria and South Australia ended. Confidence dropped in Sydney with the extension of lockdown in the city, but this was not enough to offset gains elsewhere

All but one of the subindices registered a gain. 'Current financial conditions' rose 1.0 per cent, while 'future financial conditions' increased by 2.3 per cent.

'Current economic conditions' lost 4.7 per cent, while 'future economic conditions' gained 0.5 per cent.

'Time to buy a major household item' improved by 5.3 per cent. 'Weekly inflation expectations' fell by 0.1ppt to 4.2 per cent, though the four-week moving average rose 0.1ppt to 4.2 per cent.