Australian data - leading indicator drops 0.43% m/m

Westpac's leading indicator is a consistently good pointer to what is ahead for the Australian economy

Drops again

now at 97.16, down 0.43% on the month (previous +0.03% m/m)

all 5 components of the index were lower

The 6 month annualised growth accelerated lower, to -0.96% (previous -0.49%).

This indicator has been showing sub-trend growth for the Australian economy, for many years. Australia went into the coronavirus crisis with a weaker economy.

Earlier:

• Coronavirus - Westpac revise their Australia forecast, deeper recession, 7% unemployment