Despite “still strong” index, Westpac slashes Sep quarter forecast as lockdowns bite

21 July 2021

 

Summary:  Leading index growth rate falls again in June; at level which is “more subdued but still strong”; reading implies annual GDP growth to rise to around 4.0% during third, fourth quarters; Westpac slashes September quarter GDP forecast from 0.9% to -0.7%.   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...

read full story