The Westpac–Melbourne Institute Leading Economic Index fell 0.1% month-on-month in September 2026, after remaining flat for the previous two months, marking its first decline since May. Meanwhile, its six-month annualised growth rate held at -0.03%, unchanged from August. The index suggests economic momentum remains slightly below trend heading into late 2026 and early 2027, with growth stabilising at a modest pace rather than stalling. However, higher fuel prices and the RBA’s September rate hike are still filtering through the economy and could weigh on near-term growth. Westpac expects Australia’s economy to expand 1.5% in calendar 2026, below its long-run trend. “For now, it suggests the economy has been stuck in a bit of a holding pattern over the last two years,” said Matthew Hassan, Westpac’s head of Australian macro-forecasting. source: Melbourne Institute

Leading Economic Index Australia decreased 0.10 percent in September of 2026 over the same month in the previous year. Leading Economic Index in Australia averaged 0.00 percent from 1960 until 2026, reaching an all time high of 0.69 percent in November of 2020 and a record low of -1.92 percent in April of 2020. This page provides the latest reported value for - Australia Leading Economic Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Leading Economic Index - data, historical chart, forecasts and calendar of releases - was last updated on October of 2026.

Leading Economic Index Australia decreased 0.10 percent in September of 2026 over the same month in the previous year. Leading Economic Index in Australia is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Leading Economic Index is projected to trend around 0.40 percent in 2027 and 0.30 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-16 01:00 AM
Westpac Leading Index MoM
Aug 0% 0% 0.2%
2026-10-14 12:00 AM
Westpac Leading Index MoM
Sep -0.1% 0% -0.1%
2026-11-19 12:00 AM
Westpac Leading Index MoM
Oct -0.1%


Related Last Previous Unit Reference
Bankruptcies 1222.00 1808.00 Companies Sep 2026
Building Capital Expenditure 2.10 -3.30 percent Jun 2026
NAB Business Confidence -13.00 -9.00 points Sep 2026
Business Inventories -0.20 0.70 percent Jun 2026
Capacity Utilization 77.20 79.40 percent Sep 2026
Passenger Car Sales 13796.00 13592.00 Units Sep 2026
Changes in Inventories 71.00 749.00 AUD Million Jun 2026
Composite Leading Indicator 99.95 99.99 points Sep 2026
Company Gross Profits 134696.00 132311.00 AUD Million Jun 2026
Corruption Index 76.00 77.00 Points Dec 2025
Corruption Rank 12.00 10.00 Dec 2025
Industrial Production 0.50 2.50 percent Jun 2026
Industrial Production Mom 0.20 -0.90 percent Jun 2026
Ai Group Industry Index -24.20 -1.60 points Sep 2026
Ai Group Services Index -31.10 -0.20 points Sep 2026
Ai Group Construction Index -34.50 -4.70 points Sep 2026
Ai Group Manufacturing Index -8.70 -14.90 points Sep 2026
Westpac Leading Index MoM -0.10 0.00 percent Sep 2026
Manufacturing Production 1.10 3.20 percent Jun 2026
Mining Production 0.30 3.10 percent Jun 2026
New Orders 20.00 7.00 points Sep 2026
Plant Machinery Capital Expenditure -8.90 18.40 percent Jun 2026
Private Capital Expenditure -3.60 6.90 percent Jun 2026
New Vehicle Sales 102924.00 100939.00 Units Sep 2026


Australia Leading Economic Index
The Westpac-Melbourne Institute Leading Index of Economic Activity combines a selection of economic variables that typically lead fluctuations in economic activity into a single measure that provides a reliable cyclical indicator for the Australian economy. The index includes the following components: S&P/ASX 200, dwelling approvals, US industrial production, RBA Commodity Prices Index (A$), aggregate monthly hours worked, Westpac-MI CSI expectations index, Westpac-MI Unemployment expectations index, yield spread (10Y bond – 90D bill). The index has a base value of 100 as of 1996.
Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.00 0.69 -1.92 1960 - 2026 percent Monthly
1996=100

News Stream
Australia Leading Index Edges Lower
The Westpac–Melbourne Institute Leading Economic Index fell 0.1% month-on-month in September 2026, after remaining flat for the previous two months, marking its first decline since May. Meanwhile, its six-month annualised growth rate held at -0.03%, unchanged from August. The index suggests economic momentum remains slightly below trend heading into late 2026 and early 2027, with growth stabilising at a modest pace rather than stalling. However, higher fuel prices and the RBA’s September rate hike are still filtering through the economy and could weigh on near-term growth. Westpac expects Australia’s economy to expand 1.5% in calendar 2026, below its long-run trend. “For now, it suggests the economy has been stuck in a bit of a holding pattern over the last two years,” said Matthew Hassan, Westpac’s head of Australian macro-forecasting.
2026-10-14
Australia Leading Index Stays Subdued
The Westpac–Melbourne Institute Leading Economic Index was flat month-on-month in August, unchanged from the previous month. Meanwhile, its six-month annualised growth rate improved to -0.09% from -0.17% in July. Momentum remained soft but has strengthened since mid-year, with the index now only marginally below trend heading into late 2026 and early 2027. Q2 GDP growth showed the Australian economy holding up better than expected despite a global energy shock and higher interest rates. Activity appears to be stabilising at a slow pace rather than stalling, supported by resilient households and a strong ramp-up in data-centre investment. Westpac expects the RBA to raise rates again but, on balance, to wait for the next comprehensive quarterly inflation update on October 28. As a result, the September meeting is likely to deliver a “very hawkish hold.”
2026-09-16
Australia Leading Index Subdued
The Westpac–Melbourne Institute Leading Economic Index was flat in July after an upwardly revised 0.1% gain in the prior month. Meanwhile, the six-month annualised growth rate improved to -0.2% from -0.4%, though it remained below trend for a seventh straight month. Momentum has firmed modestly since mid-year, pointing to an economy that is soft but not weak, with GDP growth likely to stay positive even as per-capita output hovers near flat. Westpac expects the Reserve Bank to hold rates again in September while stressing readiness to tighten if inflation proves sticky. Head of Macro-Forecasting Matthew Hassan said softer growth signals should reassure the board that demand is gradually aligning with supply, though the moderation also underscores resilience. The key issue remains whether growth slows enough to return inflation to the 2–3% target range in time.
2026-08-26