The Westpac-Melbourne Institute Leading Economic Index was flat in June 2026, following a revised 0.1% fall in May, with the underlying index showing signs of stabilisation after most of the weakness emerged in the first three months of the year. Meanwhile, the six-month annualised growth rate fell to -0.36% from -0.25% in May, marking the sixth consecutive below-trend reading and the weakest pace since late 2023. The latest reading points to slowing economic momentum, reflecting the lagged impact of the RBA’s rate hikes in February, March, and May, along with earlier fuel price shocks linked to geopolitical tensions. A narrowing yield spread was the largest contributor to the deterioration, while weaker dwelling approvals, consumer expectations, and hours worked also weighed on the index. However, renewed inflation risks and Middle East tensions could weigh on growth ahead. The RBA will focus on the June quarter CPI report ahead of its August meeting. source: Melbourne Institute

Leading Economic Index Australia decreased 0 percent in June 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 July of 2026.

Leading Economic Index Australia decreased 0 percent in June of 2026 over the same month in the previous year. Leading Economic Index in Australia is expected to be -0.40 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
2026-06-17 01:00 AM
Westpac Leading Index MoM
May 0% 0.1% -0.1%
2026-07-22 01:00 AM
Westpac Leading Index MoM
Jun 0% -0.1% -0.2%
2026-08-26 01:00 AM
Westpac Leading Index MoM
Jul 0%


Related Last Previous Unit Reference
Bankruptcies 1333.00 1104.00 Companies Jun 2026
Building Capital Expenditure -3.80 2.50 percent Mar 2026
NAB Business Confidence -5.00 -14.00 points Jun 2026
Business Inventories 0.50 -0.10 percent Mar 2026
Capacity Utilization 72.80 75.70 percent Jun 2026
Passenger Car Sales 15099.00 12605.00 Units Jun 2026
Changes in Inventories 675.00 897.00 AUD Million Mar 2026
Composite Leading Indicator 100.24 100.33 points Jun 2026
Company Gross Profits 132650.00 134455.00 AUD Million Mar 2026
Corruption Index 76.00 77.00 Points Dec 2025
Corruption Rank 12.00 10.00 Dec 2025
Industrial Production 2.50 2.80 percent Mar 2026
Industrial Production Mom -0.60 1.70 percent Mar 2026
Ai Group Industry Index -30.00 -30.50 points Jun 2026
Ai Group Services Index -30.00 -19.60 points Jun 2026
Ai Group Construction Index -38.10 -11.20 points Jun 2026
Ai Group Manufacturing Index -16.80 -21.30 points Jun 2026
Westpac Leading Index MoM 0.00 -0.10 percent Jun 2026
Manufacturing Production 3.20 1.10 percent Mar 2026
Mining Production 3.10 4.00 percent Mar 2026
New Orders 33.00 33.00 points Mar 2026
Plant Machinery Capital Expenditure 18.10 -1.30 percent Mar 2026
Private Capital Expenditure 6.50 0.70 percent Mar 2026
Small Business Sentiment -2.00 -8.00 points Sep 2025
New Vehicle Sales 131134.00 100206.00 Units Jun 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
0.00 -0.10 0.69 -1.92 1960 - 2026 percent Monthly
1996=100

News Stream
Australia Leading Index Stable in June
The Westpac-Melbourne Institute Leading Economic Index was flat in June 2026, following a revised 0.1% fall in May, with the underlying index showing signs of stabilisation after most of the weakness emerged in the first three months of the year. Meanwhile, the six-month annualised growth rate fell to -0.36% from -0.25% in May, marking the sixth consecutive below-trend reading and the weakest pace since late 2023. The latest reading points to slowing economic momentum, reflecting the lagged impact of the RBA’s rate hikes in February, March, and May, along with earlier fuel price shocks linked to geopolitical tensions. A narrowing yield spread was the largest contributor to the deterioration, while weaker dwelling approvals, consumer expectations, and hours worked also weighed on the index. However, renewed inflation risks and Middle East tensions could weigh on growth ahead. The RBA will focus on the June quarter CPI report ahead of its August meeting.
2026-07-22
Australia Leading Index Subdued in May
The Westpac–Melbourne Institute Leading Economic Index was flat month-over-month in May 2026 after an upwardly revised 0.1% gain in the previous month, underscoring weak momentum. Meanwhile, the six-month annualised growth rate edged to -0.17% from -0.18% in April, signalling below-trend growth likely through late 2026 into early 2027. While no sharp downturn is evident, the drag from higher rates and elevated fuel costs is expected to build gradually. At its June meeting, the Reserve Bank paused to gauge the impact of earlier hikes and the energy shock but warned inflation risks remain skewed upward, leaving scope for further tightening. Consistent with the leading Index, growth appears subdued, though inflation remains the central bank’s primary concern. Westpac expects upcoming CPI to remain uncomfortably high, raising the odds of additional hikes in the coming months.
2026-06-17
Australia Leading Index Rises in April
The Westpac–Melbourne Institute Leading Economic Index stalled from a month earlier in April 2026, following a 0.10% decline in March. Meanwhile, the six-month annualised growth rate slipped to -0.17% from -0.11% in March, pointing to below-trend growth through the second half of 2026 and into early 2027. The latest reading marked the first consecutive below-trend signal since late 2024, reflecting a clearer loss of momentum in the Australian economy. The deterioration was driven mainly by a sharp weakening in consumer sentiment, with the Consumer Expectations Index plunging 20% since late last year and becoming a major drag on the headline index. Softer financial market indicators, including a narrowing yield spread and weaker equity markets, also weighed on the outlook. Westpac expects the Reserve Bank to pause at its June meeting after three straight rate hikes, while persistent inflation pressures are likely to keep the door open for further tightening later this year.
2026-05-27