Australia - leading index for April: -0.09% m/m (prior +0.19%)

Australian data - Westpac leading index

Barely moved at -0.09% on the month

• six month annualised growth rate -0.47% in April, from -0.13% in March

WPAC comments:

• consistent 'below trend' signal from the Index
• in line with Westpac's growth forecast for 2019 of 2.2%
• We note that the Reserve Bank has recently lowered its growth forecast for 2019 from 3% to 2.6%. That adjustment is in the right direction and is official recognition that growth in 2019 will be below trend (generally accepted as around 2.75%)

--

Earlier:

• Data from Australia due today - leading index at 0030GMT

---

Still to come from Australia today:

• Data from Australia due today - construction work (GDP input) due at 0030GMT