Monitor AU Westpac Consumer Sentiment to gauge financial confidence, a primary driver of consumer spending and economic activity.
Consumer financial confidence serves as a key indicator for spending, which constitutes a significant portion of total economic activity; its effects are generally mild, but can fluctuate each month due to data volatility.
What it Measures
Change in the level of a diffusion index derived from consumer surveys.
Usual Effect
'Actual' values exceeding 'Forecast' are viewed positively for the currency.
Source & Frequency
Westpac Banking Corporation (latest release) - https://www.westpac.com.au/ • Published monthly, typically on the second Tuesday of the month.
How Data is Derived
Survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases
Also Known As
Westpac-Melbourne Institute Consumer Sentiment
Acronym
N/A