The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, moved into slightly positive territory in October, lifting to +0.35% in October from +0.10% in September.
WPAC comments:
- Leading Index growth rate lifts to 0.35%, moving into slightly positive territory
- Increase marks a step-up from around-trend readings over past six months
- Recent surge in consumer expectations played a big role
