Westpac-MI leading index negative for seventh consecutive month

Summary: Leading index growth rate up in February; seventh consecutive month of below-trend results; reading implies annual GDP growth of around 1.75%; ACGB yields higher; rate-rise expectations firm; offshore banking problems have indirect implications for domestic growth. 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 reaching a peak in early...

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