An Australian index of leading economic indicators advanced in December as gains in money supply and U.S. industrial production outweighed declines in stocks and dwelling approvals. The index, a gauge of future economic growth, rose 0.5 percent from a month earlier to 283.4, Westpac Banking Corp. (WBC) and the Melbourne Institute said in a statement in Sydney today. Reserve Bank of Australia Governor Glenn Stevens unexpectedly paused interest-rate reductions this month, after cutting at back-to-back meetings late last year, on optimism Europe will contain its fiscal problems and the domestic economy will strengthen. ... (full story)