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- Westpac leading economic index demonstrates a positive trend
Westpac leading economic index demonstrates a positive trend
The index of leading economic indicators from Australia, published by the University of Melbourne, rose 0.1% in October as in September. This index tracks the performance of nine indicators of economic activity, including share prices. However, today's figure was insignificant and did not affect the Australian dollar.
The leading index, which indicates the likely pace of economic activity relative to trend from three to nine months into the future, fell from + 0.63% in September to +0.43% in October. Although the growth rate slowed slightly, the index still shows a clear positive signal for the near-term economic outlook.
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