Growth prospects encouraging; Westpac-MI leading index kicks up

21 April 2022

 

Summary:  Leading index growth rate up in March; February reading revised up; growth prospects “are encouraging”; reading implies annual GDP growth of around 4.25%; figures consistent with Westpac’s upbeat view of economy’s growth momentum. 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 the short-term. After reaching a peak in early 2018, the index...

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