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MNI:Australia Leading Index Signals Rise In Above-Trend Growth 

     SYDNEY (MNI) - From Westpac-Melbourne Institute's Leading Index for April
published Wednesday.
                                             April  March
---------------------------------------------------------
Leading Index                                97.99  97.80
6-Mo Annualized Deviation From Trend, % pts  +0.82  +0.77
     FACTORS: The leading index rose in April, signalling an acceleration in
above-trend growth momentum. Drivers of the above trend growth in the index over
the last six months have been mostly international including commodity prices
and U.S. industrial production.
     TAKEAWAY: The leading index continues to point to above-trend growth which
is in line with the Reserve Bank of Australia and the government's forecast but
Westpac continues to forecast around-trend growth of 2.7% in 2018.
     COMMENTS: Westpac chief economist Bill Evans continues to expect the RBA
will keep the cash rate on hold in 2018 and 2019. "We expect that the conditions
required to justify an interest rate increase are remote," Evans said.
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MTABLE,MALDS$,M$A$$$,M$L$$$,MT$$$$]
Data StoriesImpactDataPolicy NewsBellAPACChinaJapanAustraliaNew ZealandRegion
Data StoriesImpactDataPolicy NewsBellAPACChinaJapanAustraliaNew ZealandRegion
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