The Westpac-Melbourne Institute Leading Economic Index in Australia increased by 0.3 percent month-over-month in January of 2021, after a 0.1 percent gain in December. Meantime, the six-month annualized growth, which indicates the likely pace of economic activity relative to trend three to nine months into the future, was running at 2.75 percent in January. "With the unemployment rate falling and consumer sentiment currently near a 10-year high the consumer is expected to compensate for the likely impact on incomes from the winding down in a number of the federal government income support programs," Westpac chief economist Bill Evans said. "This growth profile is dependent on Australia's continued success in managing the pandemic locally." source: Westpac Banking Corporation, Melbourne Institute

Leading Economic Index in Australia averaged 0 percent from 1960 until 2021, reaching an all time high of 0.69 percent in November of 2020 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 February of 2021.

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 2022, according to our econometric models.

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Australia Leading Economic Index

Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.12 0.69 -1.74 1960 - 2021 percent Monthly
1996=100


Calendar GMT Actual Previous Consensus TEForecast
2020-11-18 12:30 AM Westpac Leading Index MoM Oct 0.1% 0.2% 0.3%
2020-12-16 12:30 AM Westpac Leading Index MoM Nov 0.5% 0.3% 0.3%
2021-01-27 12:30 AM Westpac Leading Index MoM Dec 0.1% 0.7%
2021-02-17 12:30 AM Westpac Leading Index MoM Jan 0.3% 0.1% 0.1%
2021-03-17 12:30 AM Westpac Leading Index MoM Feb 0.3%
2021-04-21 01:30 AM Westpac Leading Index MoM Mar
2021-05-20 01:30 AM Westpac Leading Index MoM Apr
2021-06-17 01:30 AM Westpac Leading Index MoM May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Australia Leading Index Rises 0.3% MoM in January
The Westpac-Melbourne Institute Leading Economic Index in Australia increased by 0.3 percent month-over-month in January of 2021, after a 0.1 percent gain in December. Meantime, the six-month annualized growth, which indicates the likely pace of economic activity relative to trend three to nine months into the future, was running at 2.75 percent in January. "With the unemployment rate falling and consumer sentiment currently near a 10-year high the consumer is expected to compensate for the likely impact on incomes from the winding down in a number of the federal government income support programs," Westpac chief economist Bill Evans said. "This growth profile is dependent on Australia's continued success in managing the pandemic locally."
2021-02-17
Australia Leading Index Rises 0.12% MoM
The Westpac-Melbourne Institute Leading Economic Index in Australia increased by 0.12 percent month-over-month in Decem of 2020, after an upwardly revised 0.69 percent gain in November. Meantime, the six-month annualized growth, which indicates the likely pace of economic activity relative to trend three to nine months into the future, was running at 4.18 percent in December. "Markets will be watching for any indication about the $100 billion Quantitative Easing which is currently scheduled to expire in late May. Westpac is forecasting that the program will be extended with a second $100 billion tranche," said Westpac chief economist Bill Evans.
2021-01-27
Australia Leading Index Rises 0.5% MoM in November
The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.5 percent month-over-month in November of 2020, after an upwardly revised 0.3 percent gain in October. Meantime, the six-month annualized growth, which indicates the likely pace of economic activity relative to trend three to nine months into the future, was running at 4.38 percent in November. "This is the strongest growth rate in the 60-year history of the measure," Westpac chief economist Bill Evans said. "This is signaling an annual growth rate above the long-term trend of 2.75 percent." The strength of the index is consistent with Westpac's recent upgrade to its annual growth forecasts - from minus three percent to minus two percent for 2020 and from 2.8 percent to four percent in 2021.
2020-12-16
Australia Leading Index Rises 0.1% MoM in September
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.
2020-11-18

Australia Leading Economic Index
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.