Leading index up; Westpac trims Q2 contraction

17 June 2020

 

Summary:  leading index hits floor, bounces slightly in May; implies annual GDP growth to fall to ~-2.0% later this year; Westpac trims June quarter contraction to 7%; “deep recession is still forecast”.   Westpac and the Melbourne Institute describe their Leading Index as a composite measure which attempts to estimate the likely pace of Australian economic activity over the next three to six months. After reaching a peak in early...

read full story