Westpac-Melbourne Institute Leading Index for March 2023
six-month annualised growth rate in the Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, lifted slightly to -0.75% in March from -0.79% in February.
WPAC comments (in brief):
- Leading Index growth rate remains in negative territory at -0.75%.
- Eighth consecutive negative print.
- Index consistent with below-trend growth throughout 2023.
- Households at the centre of slowdown with further drags from construction and global factors.
