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Leading Index points to more weak growth ahead
The six-month annualised growth rate in the WestpacMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, dipped to –0.40% in October from –0.38% in September. The Leading Index shows little change in the Australian economy’s sub-par performance. October marks the fifteenth successive sub-zero read on the Index growth rate – signalling that the activity is set to remain in the ‘low growth rut’ that has prevailed throughout 2023 well into 2024. Note that this is still consistent with moderately positive growth in ... (full story)