Free Trial
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 December 6-month annualised Westpac leading indicator, which leads detrended growth by 3 to 9 months, was flat after rising 0.2% in November. The index itself moved sideways over Q4 signalling growth steadied (see chart). And Westpac notes that the improvement in the 6-month rate shows that economic momentum is stabilising rather than picking up, and that it remains soft. The shift into positive territory has been driven by stronger commodity prices, especially iron ore.
- The index fell 0.04% on the month after rising 0.07%.
- H2 2023 saw a boost mainly from commodity prices but also from the financial components and the stabilisation in consumer confidence also helped. But the moderation in hours worked, soft dwelling approvals and US IP have weighed on the leading index.
Australia Westpac leading index vs real GDP y/y%
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok