Summary: Leading index falls in May; at level signalling “more sustainable above trend growth rate” through 2021 and 2022; reading implies annual GDP growth to rise to around 4.25% during third, fourth quarters; FY 2021 GDP growth expected to be at/above 9.25%. Westpac and the Melbourne Institute describe their Leading Index as a composite measure which attempts to estimate the likely pace of Australian economic growth over the next...