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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
Westpac’s leading indicator fell 0.03% m/m in April to be down 0.78% on a 6-month annualised basis after -0.69% in March. This latter measure has been negative since August 2022 and signals below trend growth continuing 3 to 9 months ahead and thus into 2024.
- The stronger equity market was a positive for the index. There was also a more stable yield gap as monetary tightening has slowed. But there was a substantial weakening of building activity and a drop in commodity prices which weighed on the index.
- Westpac expects the RBA to be on hold at its June 6 meeting.
- See Westpac’s report here.
Australia Westpac leading index 6m/6m ann% vs real GDP 2q/2q ann%
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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