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MNI:Australia Leading Index Growth Momentum Accelerates in Feb

     SYDNEY (MNI) - From Westpac-Melbourne Institute's Leading Index for
February published Wednesday.
                                                         February  January
--------------------------------------------------------------------------
Leading Index                                               98.05    97.77
6-Mo Annualized Deviation From Trend, percentage points     +1.30    +0.68
     FACTORS: The leading index rose in February, pointing to an acceleration in
above-trend momentum mainly due to international factors. U.S. industrial
production (0.53 ppts) and commodity prices (0.40 ppts) explain 0.93 ppts of the
overall 1.30 ppts reading. Only 0.18 ppts are contributed by the "domestic"
components of the index - consumer and employment confidence, dwelling approvals
and hours worked.
     COMMENTS: Westpac chief economist Bill Evans continues to expect the
Reserve Bank of Australia will keep the cash rate on hold in 2018 and 2019.
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MTABLE,MALDS$,M$A$$$,M$L$$$,MT$$$$]

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