Westpac-MI leading index now “broadly steady”, follows “abrupt slowdown”

17 August 2022

 

Summary:  Leading index growth rate up in July; broadly steady over last three months; reading implies annual GDP growth of around 3.40%; spending growth expected to slow in late 2022 on back of rising interest rates, high inflation. 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...

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