Australia and New Zealand Banking : Consumer confidence up-ticks

Consumer confidence saw a small rise of 0.5 per cent last week, driven mainly by strong increases in South Australia and Western Australia and a rebound in Brisbane as restrictions were eased in parts of Queensland.

The subindices registered mixed results with the ones capturing 'current' conditions changing the most. 'Current financial conditions' improved 7.0 per cent, while 'current economic conditions' declined 6.9 per cent.

'Future' conditions were practically unchanged with 'future financial conditions' softer by 0.3 per cent and 'future economic conditions' 0.3 per cent better.

'Time to buy a major household item' gained 1.6 per cent. 'Weekly inflation expectations' fell 0.1ppt to 4.4 per cent, after reaching a 26-month high last week. Its four-week moving average rose 0.1ppt to 4.4 per cent.