Leading index up, “strong” consumer spending expected

21 April 2021

 

Summary:  Leading index increases in March; indicators point to “strong” consumer spending; reading implies annual GDP growth to rise to around 5.75% during second, third quarter; RBA’s GDP forecasts expected to be exceeded.   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 three to six months. After reaching a peak in...

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