Westpac data, comments from analysts at the bank:
- 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, increased to 0.63% in July from 0.48% in June.
- The Index growth rate has held broadly steady over the last three months after an abrupt slowdown earlier in the year from a strongly above trend starting point. Latest reads are consistent with momentum continuing to track slightly above trend heading into year-end.
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Via WPAC:
