Stabilising at trend growth; Westpac-MI leading index rises in April

Summary: Leading index growth rate up in April; main negatives over last two years starting to dissipate; reading implies annual GDP growth of around 2.50%-2.75%; ACGB yields rise; rate-cut expectations soften; Stage 3 tax cuts to provide additional relief for household  incomes. 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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