The Westpac-Melbourne Institute Leading Economic Index in Australia edged down 0.1% mom in December 2022, the same pace as in November. Meanwhile, the six-month annualized growth rate in the index, indicating the likely pace of economic activity relative to the trend three to nine months into the future, was at -0.97% in December, largely unchanged from the prior figure, marking the fifth month of negative print. "The key driver of the slowdown will be the consumer as elevated interest rates and negative real wages growth take their toll on spending," said Westpac chief economist Bill Evans. "However, there is unusual uncertainty around this outlook, particularly with respect to the household sector where large excess savings accumulated during the pandemic are providing a buffer against rising interest rates and cost of living pressures, especially for households in higher income groups." source: Melbourne Institute
Leading Economic Index in Australia averaged 0.00 percent from 1960 until 2022, reaching an all time high of 0.64 percent in November of 2020 and a record low of -1.93 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 January of 2023.
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.