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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The Westpac leading index rose 0.1% m/m in June after falling 0.3% in May driven by building approvals, less expected RBA tightening and US IP. The 6m/6m annualised measure improved to -0.5% from -1.0%, but is the eleventh straight negative month. Westpac calculates that this series leads detrended activity by 6 to 9 months, thus it is pointing to continued below trend growth in H1 2024. Westpac expects the RBA to hike another 50bp and for Q2 2024 GDP to be only 0.3% y/y. See Westpac report here.
Australia Westpac LI vs real GDP %
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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