Australia: Leading Index rebounds - Westpac
|Bill Evans, Research Analyst at Westpac, notes that the six month annualised growth rate in the Australia’s Westpac–Melbourne Institute Leading Index, rose from –0.06% in June to +0.55% in July.
Key Quotes
“The index has posted a solid rebound from last month’s below trend read. Despite this, the Leading Index growth rate has still slowed materially since the start of the year, from +1.31%in February to +0.55% in July.”
“Over the course of the last six months the Index has only dipped below zero on the one occasion which was last month. That is sending a more positive signal around the growth outlook than we are expecting at Westpac.”
“We are expecting growth over the remainder of 2018 and into 2019 to hold slightly below trend particularly in light of an uncertain outlook for the consumer.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.