Australia Leading Economic Index

The Westpac-Melbourne Institute Leading Economic Index in Australia remained unchanged on the month in January of 2017, compared to a 0.4 percent rise in the prior month. Meanwhile, the six month annualised growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from 1.36 percent in December to 1.30 percent in January. The index, being at or above trend for six consecutive months, indicated economic growth in the current calendar year will be close to the Australia’s central bank forecast of 3.0 percent, Westpac chief economist Bill Evans said. Leading Economic Index in Australia averaged -0.01 percent from 1960 until 2017, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.07 percent in December of 2008.

Australia Leading Economic Index

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The Westpac-Melbourne Institute Leading Index of Economic Activity combines a selection of economic variables that typically lead fluctuations in economic activity into a single measure that provides a reliable cyclical indicator for the Australian economy. The index includes the following components: S&P/ASX 200, dwelling approvals, US industrial production, RBA Commodity Prices Index (A$), aggregate monthly hours worked, Westpac-MI CSI expectations index, Westpac-MI Unemployment expectations index, yield spread (10Y bond – 90D bill). The index has a base value of 100 as of 1996. This page provides the latest reported value for – Australia Leading Economic Index – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Leading Economic Index – actual data, historical chart and calendar of releases – was last updated on February of 2017.