- The LEI for Australia increased in October for the second consecutive month, now stands at 122.8 (2004=100)
- Building approvals, stock prices, and the yield spread making the largest positive contributions
- The leading economic index has increased 0.9% (Approximately a 1.8% annual rate) between April and October 2013, about the same rate as for the previous six months
- Additionally, the strengths among the leading indicators have remained more widespread than the weaknesses in recent months
- LEI’s six-month growth rate has been fairly steady throughout the first three quarters
- The coincident economic index increased 0.2% during the six-month period ending October 2013 (down from the increase of 0.9% for the previous six months)
“Taken together, the relatively steady and balanced growth in both the LEI and CEI suggests that the current rate of economic expansion is likely to continue through the first half of 2014″
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Six of the seven components in The Conference Board LEI for Australia increased in October. In order from the largest positive contributor to the smallest: building approvals, share prices, the yield spread, money supply*, the sales to inventories ratio*, and gross operating surplus. Rural goods exports declined in October.