Westpac consumer confidence: what the sentiment index shows and how it moves the Aussie

Westpac consumer confidence is the name traders use for the Westpac-Melbourne Institute Consumer Sentiment Index, a monthly survey of 1,200 Australian adults about their finances and the economy. It is a soft number and moves the Aussie less than the hard data. It does give an early read on whether households are feeling the RBA's rate.

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By Mike. Explanation updated 2 Oct 2026; the dates and moves below update with the research.

Westpac consumer confidence in short

Next release: Not on our calendar yet. It appears once the date is confirmed.
Published by: Westpac and the Melbourne Institute
When: Monthly, on a Tuesday in the first half of the month, in the morning Sydney time: recent releases came at 10:30, and the next one is announced for 11:00. In Amsterdam that is the middle of the night, between about 00:30 and 03:00 depending on the time of year.
Currency: Australian dollar (AUD)
Impact: Medium: it moves the currency when it surprises
The line read first: The Consumer Sentiment Index, change on the month and level against 100
How to read it: Below 100, pessimists outnumber optimists; above 100, optimists are in the majority
Survey: 1,200 adults across Australia, in the week before the release
Also in it: Indexes for unemployment, house price and mortgage rate expectations

What is in the Westpac consumer confidence survey

The index is built from five questions: family finances compared with a year ago, family finances over the next year, the economy over the next year, the economy over the next five years, and whether now is a good time to buy a major household item.

OZINFO and Dynata run the survey among 1,200 adults aged 18 and over, chosen at random, and the answers are weighted to match the population. It takes place in the week before the release. The survey began in 1974.

Westpac also reports separate indexes for unemployment expectations, house price expectations and mortgage rate expectations, and one for whether it is a good time to buy a home.

Why consumer sentiment moves the Australian dollar

Households that feel squeezed tend to spend less. A sharp fall in sentiment can hint at weaker spending figures to come, which would lower the outlook for the cash rate.

The mortgage rate expectations index asks about rates directly. It shows how a hike, a cut or a hot inflation figure lands with the people who pay the mortgages.

How to read Westpac consumer confidence against the forecast

Read the level as well as the change. A big rise from a very low level can still leave pessimists in the majority.

Sentiment and spending do not always move together. Households can say they are gloomy and still spend, so the household spending figures carry more weight.

The reaction in the Aussie is usually small. The survey matters more when it confirms a turn that the hard data are starting to show.

What the Australian dollar did on the last release days

Our calendar keeps the exact time of each release since 16 September 2026. The first Westpac consumer confidence after that date will show here with the Australian dollar's move around it.

For scale: on an ordinary day the Australian dollar moves 0.22% against the basket from one London opening to the next, either way, on average over the 250 trading days since 14 Oct 2025.

The forecast, the figure itself and what it changed in our view of the currency are in the app, next to the research.

Questions about Westpac consumer confidence

What time is Westpac consumer confidence released?

In the morning Sydney time, on a Tuesday in the first half of the month: recent releases came at 10:30, and the next one is announced for 11:00. In Amsterdam that is the middle of the night, between about 00:30 and 03:00 depending on the time of year.

What does a reading below 100 mean?

That pessimists outnumber optimists among the people surveyed. Above 100, optimists are in the majority.

Is Westpac consumer confidence the same as Westpac consumer sentiment?

Yes. The official name is the Westpac-Melbourne Institute Consumer Sentiment Index. Economic calendars list it under several names, including Westpac consumer confidence.

How many people are in the Westpac survey?

1,200 adults aged 18 and over, across Australia, chosen at random. The answers are weighted to reflect the population.