The Westpac-Melbourne Institute Leading Economic Index in Australia edged down 0.02 percent month-over-month in September of 2021, after a 0.27 percent fall a month earlier. This was the fifth straight month of drop in the index but the softest pace in the sequence. Meantime, the six-month annualized growth rate which indicates the likely pace of economic activity relative to the trend of three to nine months, fell to -0.5% from +0.5% in August, marking the first negative reading since September last year when the economy was moving out of COVID lockdowns. The leading index growth rate has fallen steeply over the last five months. "As we saw in 2020, the index is likely to recover quite quickly as Sydney and Melbourne reopen, consistent with that strong outlook for the first half of 2022," Westpac chief economist Bill Evans said. source: Westpac Banking Corporation, Melbourne Institute
Leading Economic Index in Australia averaged 0 percent from 1960 until 2021, reaching an all time high of 0.76 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 October of 2021.
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 2022, according to our econometric models.