The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.1 percent month-over-month in October of 2020, after a 0.2 percent gain in September. Meantime, the six-month annualized growth, which indicates the likely pace of economic activity relative to trend three to nine months into the future, saw its strongest rise since the early 1980s. It also pointed to above-trend economic growth — about 2.75 percent — for the first time since November 2018. “Developments in the index are consistent with our view that growth in the Australian economy will be significantly above trend in both the September and December quarters,” Westpac chief economist Bill Evans said. source: Westpac Banking Corporation, Melbourne Institute
Leading Economic Index in Australia averaged -0.01 percent from 1960 until 2020, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.74 percent in April of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Leading Economic Index in Australia is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Australia to stand at 0.20 in 12 months time. In the long-term, the Australia Leading Economic Index is projected to trend around 0.20 percent in 2021, according to our econometric models.