Westpac-Melbourne Institute's Leading.....>

AUSTRALIA: Westpac-Melbourne Institute's Leading Index for July rose slightly in

July but pointed to a strong rebound in growth rate to 0.55% above trend from

0.06% below in June. However, despite the rebound, the leading index growth rate

has slowed materially since the start of the year to +0.55% in July from +1.31%

in February.

- The signal from leading index is in line with the Reserve Bank of Australia's

expectation that growth will hold at an above-trend level in 2018 and 2019. But

Westpac's expectation is that growth over the remainder of 2018 and into 2019

will hold slightly below trend particularly in the light of an uncertain outlook

for the consumer.

- For full story see MNI Main Wire at 01:30 BST 08/22, or contact us for full

access.