Australia Leading Index Points To Uplift In Growth Australias leading indicator of economic activity continue to grow at an above-trend pace in October, signaling a pick up in overall growth of the domestic economy, a report from Westpac and the Melbourne Institute revealed Wednesday. The six month annualized deviation from trend growth rate of the Westpac-MI leading index, which indicates the likely pace of economic activity three to nine months into the future, rose to 1.2 percent in October from 0.6 percent in September. The growth rate in the index has been above trend for the last 12 months, Westpacs Chief Economist Bill Evans said. Recent above trend growth in the index is pointing to a much better outcome over the next few quarters than that the economy experienced in the year to the June quarter, Evans noted.
Posted on: Wed, 20 Nov 2013 05:27:59 +0000