DEFINITION of 'Westpac Consumer Confidence Index'
An index measuring the level of consumer confidence in Australia. The Westpac consumer confidence index is published by the Westpac group and is used to measure household economic expectations by averaging five different indexes that measure separate aspects of consumer sentiment and fiscal health.
BREAKING DOWN 'Westpac Consumer Confidence Index'
The Westpac consumer confidence index measures household views on current buying conditions in Australia, their views on eco-political policies such as taxation, their views on where they would invest at the present time and their views on economic news like inflation and employment numbers. The Westpac Group published numerous economic reports intended to measure Australia's economic climate, including retail sales figures, GDP figures and interest rate expectations.