Negligible change.
WPAC comments:
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, declined to -0.25% in January from -0.01% in December.
- Leading Index growth rate falls to –0.25%.
- Brief improvement late last year gives way to renewed weakness.
- Australia still tracking sub-trend growth pace in first half of 2024.
- Positives around commodity prices, stabilising financial conditions and slight lift in sentiment not enough to counter weak activity indicators.
Being driven to drink we are!