Westpac-MI leading index slips; slow growth extending into 2024

24 May 2023

 

Summary: Leading index growth rate slips in April; slowdown likely to extend into early 2024; reading implies annual GDP growth of around 2.00%; ACGB yields decline; rate-cut expectations firm; Westpac: GDP growth of 1%, 1.5% in 2023, 2024. 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...

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