The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.4 percent month-over-month in June 2020, after a 0.2 percent gain in May. Meantime, the six- month annualized growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, went up to -4.44 percent in June from –5.29% in May. “Despite another modest improvement this month, the Index growth rate remains in deeply negative territory consistent with recession," said Westpac’s Chief Economist, Bill Evans. "Our forecast assumes additional stimulus of $15 billion to be announced in the Federal Budget in October and a further $15 billion to extend both JobKeeper and JobSeeker through to the end of the fiscal year."
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 -1.73 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 August of 2020. source: Westpac Banking Corporation, Melbourne Institute
Leading Economic Index in Australia is expected to be 0.00 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 0.30 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.