WBC-MI leading index holding up “quite well” but negative for second month

17 November 2021

 

Summary:  Leading index growth rate unchanged in October; in negative territory for two consecutive months but index holds up “quite well”; non-lockdown states operating above trend, global backdrop much more supportive; reading implies annual GDP growth of 2.25% during December/March quarters; Westpac maintains growth forecasts. Westpac and the Melbourne Institute describe their Leading Index as a composite measure which attempts to estimate the likely pace of Australian economic growth in...

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