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The consumer confidence index in Australia published by the Faculty of Economics and Commerce at the University of Melbourne, grew by 2% in August, after a decline of 3% in July. This indicator reflects the level of public confidence in the economy by means of ratings 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.
Westpac survey was conducted during the first four days of August.
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