WBC-MI leading index languishes in negative territory for fourth month

27 January 2022

 

Summary:  Leading index growth rate up a little in December, still negative; reflects “high degree of uncertainty” around near-term outlook; strong reopening forces from December quarter currently impacted by omicron spread; reading implies annual GDP growth of around 2.50% during June/September quarters; Westpac raises December quarter GDP forecast to 2.6%, cuts March quarter to zero. Westpac and the Melbourne Institute describe their Leading Index as a composite measure which attempts...

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