Latest Westpac-MI leading index reading supportive of “substantially lower” GDP growth in 2023

16 November 2022

 

Summary: Leading index growth rate down again in September; further support for forecasts of substantially slower growth in 2023; reading implies annual GDP growth of around 1.50%; ACGB yields mostly lower; rate-rise expectations firm; “sharp turnaround” from April attributed to higher interest rates, lower prices for commodities in AUD terms, slowing of “hours worked” growth. Westpac and the Melbourne Institute describe their Leading Index as a composite measure which attempts...

read full story