The Westpac-Melbourne Institute Leading Economic Index in Australia declined by 0.2% yoy in April 2022, the first drop since last September, after a 0.3% increase in the prior month. Meanwhile, the six-month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, slowed to 0.88 percent in April from 1.69 percent in March. Westpac expects that the Reserve Bank of Australia will decide to raise the cash rate by a further 40 basis points to 0.75 percent during its meeting on June 7th. "The board will also be aware of the efforts of other central banks, including the US Fed, to quickly move interest rate settings back to neutral, said chief economist Bill Evans. "It is also much more prudent to front load the increases where at a stage in the cycle when rates are clearly below what might be considered a ‘neutral’ level." source: Melbourne Institute
Leading Economic Index in Australia averaged 0 percent from 1960 until 2022, reaching an all time high of 0.76 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 May of 2022.
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. In the long-term, the Australia Leading Economic Index is projected to trend around 0.20 percent in 2023, according to our econometric models.