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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 indicator fell for the third consecutive month in January but by less than in December, which was revised down. January fell 0.08% after -0.19% to leave the 6-month annualised growth rate at -1.04%. The 6-month series leads by 3 to 9 months and has been negative since August, thus signalling that most of the year, at least, is likely to see below trend growth, which is in line with RBA projections.
- The deterioration in the 6-month measure since mid-2022 has been driven by a slowing in hours worked, a significant drop in commodity prices in A$, slower US industrial production, sharply narrower yield spread reflecting central bank tightening and weaker labour market expectations. The three other components rose.
Australia Westpac leading index vs real GDP y/y%
Source: MNI - Market News/Refinitiv/Bloomberg
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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