“Signs of improving”; Westpac-MI leading index moves back to trend growth

Summary: Leading index growth rate up in February; continues to show signs of improving; reading implies annual GDP growth of around 2.75%; ACGB yields fall; rate-cut expectations soften a touch; recent readings broadly consistent with more-stable growth profile emerging later this year. Westpac and the Melbourne Institute describe their Leading Index as a composite measure which attempts to estimate the likely pace of Australian economic growth in the short-term. After...

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