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- The index of consumer confidence from Westpac Australia increased in February
The index of consumer confidence from Westpac Australia increased in February
Consumer confidence index of Australia from Westpac, published by the Faculty of Economics and Commerce at the University of Melbourne, increased by 2.3% in February after +1% in January. This indicator reflects the level of public confidence in the economy by means of ratings by respondents into categories such as personal financial situation in the past year and the outlook for next year, expectations about the economic situation in the 1 and 5 year term, as well as the current consumer climate in terms of households readiness to commit large purchases. In general, high levels are considered to be a positive factor for the Australian currency and AUD / USD rose slightly after the publication of the data.
Westpac noted that for the week ending February 11, 1200 people were interviewed and the result is an encouraging sign that the weak performance at the end of last year, especially in retail, will last in 2017.
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