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Leading Index improves but still negative
These monthly movements can be choppy. Nevertheless the index growth rate remains below trend for a sixth successive month. Over the month, commodity prices; the sharemarket and dwelling approvals explained the improvement. On the other hand these positives were partly offset by deteriorating consumer confidence both overall and in the jobs market in particular. With this big monthly turnaround, the Leading Index growth rate has lifted over the last six months from –0.36% in January to the current -0.02%. Two components have driven the improvement this year: the S&P/ASX 200 (+0.7ppts), reflecting a sustained ... (full story)