Info via WPAC on their leading index for December:
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, eased back to +0.01% in December from +0.18% in November.
- Leading Index growth +0.01%.
- Second positive read after fifteen consecutive negatives.
- But much of the gain is due to a commodity price rally that may not last.
- Broad picture still looks to be a stabilisation rather than a cycle upturn.
AUD little changed:
