Australia AUD

Australia Westpac Consumer Confidence Change

Info

History

Chart

Impact:

High

Source: Westpac Banking Corporation, Melbourne Institute

Latest Release:

Date:

Surprise:

-0.3%

AUD

Actual:

2.7%

Forecast: 3%

Previous/Revision:

-2.6%

Period: Dec

What Does It Measure?

The Westpac Consumer Confidence Change measures the degree of optimism or pessimism that consumers feel regarding the economic situation in Australia, focusing on their outlook for household finances, economic conditions, and major purchases. This indicator primarily assesses sentiment, which can influence consumption patterns and, consequently, overall economic growth.

Frequency

The Westpac Consumer Confidence Change is released on a monthly basis, typically published in the first half of the month and represents a preliminary estimate based on surveys conducted during the preceding weeks.

Why Do Traders Care?

Traders monitor this indicator closely as it reflects consumer sentiment, which can significantly impact spending habits and economic growth; strong consumer confidence can lead to bullish trends in equities and a stronger Australian dollar, whereas weak confidence might have the opposite effect. As a timely measure of economic health, shifts in this index can guide investment strategies and financial forecasts.

What Is It Derived From?

This measure is derived from a survey conducted by Westpac, which collects responses from approximately 1,200 consumers across Australia. The survey methodology employs a diffusion index approach, where responses are weighted to reflect the varying significance of the factors influencing consumer sentiment.

Description

The Westpac Consumer Confidence Change serves as a leading economic indicator, often indicating future consumer spending and economic activity. Preliminary reports reflect early estimates based on initial survey responses, while final reports present comprehensive data after adjustments, leading to possible market reassessments.

Additional Notes

As a coincident economic indicator, this measure provides insight into current economic conditions rather than predicting future trends. It is relevant as it can reflect broader economic issues and interacts with other consumer-related indicators and sentiment surveys globally, offering context for both local and international economic assessments.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for AUD, Bullish for Stocks. Lower than expected: Bearish for AUD, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Dec 11, 2023	2.7%	3%	-2.6%	-0.3%
Nov 13, 2023	-2.6%	0.7%	2.9%	-3.3%
Oct 09, 2023	2.9%	-0.7%	-1.5%	3.6%
Sep 12, 2023	-1.5%	0.6%	-0.4%	-2.1%
Aug 08, 2023	-0.4%	-0.7%	2.7%	0.3%
Jul 11, 2023	2.7%	2.7%	0.2%
Jun 13, 2023	0.2%	0%	-7.9%	0.2%
May 16, 2023	-7.9%	-1.7%	9.4%	-6.2%
Apr 11, 2023	9.4%	1.5%	0%	7.9%
Mar 13, 2023	0%	0.8%	-6.9%	-0.8%
Feb 13, 2023	-6.9%	1.2%	5%	-8.1%
Jan 16, 2023	5%	-2.3%	3%	7.3%
Dec 12, 2022	3%	2.5%	-6.9%	0.5%
Nov 07, 2022	-6.9%	-1.2%	-0.9%	-5.7%
Oct 10, 2022	-0.9%	-2.8%	3.9%	1.9%
Sep 13, 2022	3.9%	-1%	-3%	4.9%
Aug 09, 2022	-3%	1.4%	-3%	-4.4%
Jul 12, 2022	-3%	-1.6%	-4.5%	-1.4%
Jun 15, 2022	-4.5%	-0.5%	-5.6%	-4%
May 11, 2022	-5.6%	-1%	-0.9%	-4.6%
Apr 13, 2022	-0.9%	-1.7%	-4.2%	0.8%
Mar 08, 2022	-4.2%	-1.6%	-1.3%	-2.6%
Feb 08, 2022	-1.3%	-0.2%	-2%	-1.1%
Jan 18, 2022	-2%	-0.3%	-1%	-1.7%
Dec 14, 2021	-1%	0.7%	0.6%	-1.7%
Nov 09, 2021	0.6%	-0.6%	-1.5%	1.2%
Oct 13, 2021	-1.5%	1.5%	2%	-3%
Sep 15, 2021	2%	-2%	-4.4%	4%
Aug 11, 2021	-4.4%	0.2%	1.5%	-4.6%
Jul 14, 2021	1.5%	-2.5%	-5.2%	4%
Jun 09, 2021	-5.2%	0.8%	-4.8%	-6%
May 19, 2021	-4.8%	-1.5%	6.2%	-3.3%
Apr 14, 2021	6.2%	1%	2.6%	5.2%
Mar 09, 2021	2.6%	1.3%	1.9%	1.3%
Feb 09, 2021	1.9%	1%	-4.5%	0.9%
Jan 19, 2021	-4.5%	-1.8%	4.1%	-2.7%
Dec 09, 2020	4.1%		2.5%
Nov 10, 2020	2.5%	3.8%	11.9%	-1.3%
Oct 13, 2020	11.9%	0.7%	18%	11.2%
Sep 09, 2020	18%	-3.1%	-9.5%	21.1%
Aug 12, 2020	-9.5%	-1%	-6.1%	-8.5%
Jul 15, 2020	-6.1%	2.5%	6.3%	-8.6%
Jun 10, 2020	6.3%	2.2%	16.4%	4.1%
May 13, 2020	16.4%	-14%	-17.7%	30.4%
Apr 15, 2020	-17.7%	-15%	-3.8%	-2.7%
Mar 10, 2020	-3.8%	-0.4%	2.3%	-3.4%
Feb 11, 2020	2.3%	1.4%	-1.8%	0.9%
Jan 21, 2020	-1.8%	-0.8%	-1.9%	-1%
Dec 10, 2019	-1.9%	-0.7%	4.5%	-1.2%
Nov 12, 2019	4.5%	0.8%	-5.5%	3.7%
Oct 09, 2019	-5.5%	-0.3%	-1.7%	-5.2%
Sep 11, 2019	-1.7%	-2%	3.6%	0.3%
Aug 14, 2019	3.6%	2.3%	-4.1%	1.3%
Jul 10, 2019	-4.1%	0.3%	-0.6%	-4.4%
Jun 12, 2019	-0.6%	0.5%	0.6%	-1.1%
May 15, 2019	0.6%	-0.3%	1.9%	0.9%
Apr 10, 2019	1.9%	-1.8%	-4.8%	3.7%
Mar 12, 2019	-4.8%	-1.3%	4.3%	-3.5%
Feb 12, 2019	4.3%	-0.4%	-4.7%	4.7%
Jan 16, 2019	-4.7%		0.1%
Dec 11, 2018	0.1%		2.8%
Nov 13, 2018	2.8%		1%
Oct 09, 2018	1%		-3%
Sep 12, 2018	-3%		-2.3%
Aug 15, 2018	-2.3%		3.9%
Jul 11, 2018	3.9%		0.3%
Jun 13, 2018	0.3%		-0.6%
May 16, 2018	-0.6%	0.4%	-0.6%	-1%
Apr 11, 2018	-0.6%	103.2%	0.2%	-103.8%
Mar 13, 2018	0.2%	-0.6%	-2.3%	0.8%
Feb 13, 2018	-2.3%		1.8%
Jan 17, 2018	1.8%		3.6%
Dec 12, 2017	3.6%		-1.7%
Nov 14, 2017	-1.7%		3.6%
Oct 11, 2017	3.6%		2.5%
Sep 13, 2017	2.5%		-1.2%
Aug 09, 2017	-1.2%		0.4%
Jul 12, 2017	0.4%	-0.7%	-1.8%	1.1%
Jun 14, 2017	-1.8%		-1.1%
May 17, 2017	-1.1%	0.3%	-0.7%	-1.4%
Apr 12, 2017	-0.7%	0.1%	0.1%	-0.8%
Mar 15, 2017	0.1%		2.3%
Feb 14, 2017	2.3%		0.1%
Jan 17, 2017	0.1%	-0.1%	-3.9%	0.2%
Dec 13, 2016	-3.9%		-1.1%
Nov 09, 2016	-1.1%		1.1%
Oct 11, 2016	1.1%		0.3%
Sep 14, 2016	0.3%	1%	2%	-0.7%
Aug 10, 2016	2%		-3%
Jul 13, 2016	-3%		-1%
Jun 15, 2016	-1%		8.5%
May 11, 2016	8.5%		-4%
Apr 13, 2016	-4%		-2.2%
Mar 08, 2016	-2.2%		4.2%
Feb 09, 2016	4.2%	-1%	-3.5%	5.2%
Jan 19, 2016	-3.5%		-0.8%
Dec 08, 2015	-0.8%		3.9%
Nov 10, 2015	3.9%		4.2%
Oct 14, 2015	4.2%	3%	-5.6%	1.2%
Sep 09, 2015	-5.6%		7.8%
Aug 12, 2015	7.8%		-3.2%
Jul 15, 2015	-3.2%		-6.9%
Jun 10, 2015	-6.9%		6.4%
May 20, 2015	6.4%		-3.2%