Tweet of the day: Westpac-Melbourne index sees January confidence decline, but housing up

Westpac chief economist Bill Evans has released the Westpac-Melbourne institute index of consumer sentiment.

There was a decline overall, but some optimism to be had with a spike in time to buy dwelling confidence.

The report showed an overall confidence decline of 3.5 percent from 100.8 in December to 97.3 in January, it's lowest level since September 2015.

However the index remains 4.3 percent above its level this time last year.

There were quick responses on twitter from Forex and FX options trader Mark Carrington (@go4forexprofits).

The senior manager at research group BIS Shrapnel Angie Zigomanis was also quick to respond to the news, telling Domain there may still be some growth for New South Wales and Victoria.

The figures have received worldwide attention with tweets coming from Miami and England.

Global markets and economics reporter for Business Insider Australia David Scutt (@David_Scutt) tweeted a summary from Westpac regarding the housing sentiment. 

For Bill Evans full commentary click here