The Westpac-Melbourne Institute Leading Economic Index in Australia dropped by 0.1 percent month-over-month in November 2019, following a revised 0.2 percent decline in the previous 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 to -0.81 percent in November from -0.78 percent in October. "“The Reserve Bank Board next meets on February 4. The minutes of the December Board meeting strengthen our conviction that the Board is likely to ease rates further. Westpac is comfortable with our current view that the RBA will reduce the cash rate from 0.75 percent to 0.5 percent at the February Board meeting”, said Westpac chief economist, Bill Evans.
Leading Economic Index in Australia averaged -0.01 percent from 1960 until 2019, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.11 percent in December of 2008. 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. source: Westpac-Melbourne Institute
Leading Economic Index in Australia is expected to be -0.20 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 0.00 in 12 months time. In the long-term, the Australia Leading Economic Index is projected to trend around 0.20 percent in 2020, according to our econometric models.