The Westpac-Melbourne Institute Leading Economic Index in Australia droped by 0.3 percent month-over-month in August 2019, reversing from a 0.1 percent rise in the previous month. Meanwhile, the six month annualised growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -0.35 percent in August from 0.01 percent in July. "At this stage, we continue to see no reason why the central bank should delay the move with a cut in October looking to be the better option," said Westpac chief economist Bill Evans. Leading Economic Index in Australia averaged 0 percent from 1960 until 2019, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.10 percent in December of 2008.

Leading Economic Index in Australia is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Australia to stand at 0.10 in 12 months time. In the long-term, the Australia Leading Economic Index is projected to trend around 0.20 percent in 2020, according to our econometric models.

Australia Leading Economic Index
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-19 01:30 AM Westpac Leading Index MoM May -0.1% -0.1% 0.1%
2019-07-17 12:30 AM Westpac Leading Index MoM Jun -0.1% -0.08% -0.2%
2019-08-21 12:30 AM Westpac Leading Index MoM Jul 0.1% -0.1% 0%
2019-09-18 12:30 AM Westpac Leading Index MoM Aug -0.3% 0.1% 0.1%
2019-10-16 12:30 AM Westpac Leading Index MoM Sep -0.3% 0%
2019-11-20 12:30 AM Westpac Leading Index MoM Oct 0.1%
2019-12-18 12:30 AM Westpac Leading Index MoM Nov -0.1%


Australia Business Last Previous Highest Lowest Unit
Business Confidence 1.00 4.00 21.00 -30.00 Index Points [+]
Services PMI 51.40 43.90 63.00 32.50 Index Points [+]
Manufacturing PMI 53.10 51.30 62.50 29.47 [+]
Industrial Production 1.90 1.30 12.60 -7.60 percent [+]
Industrial Production Mom 1.20 0.70 5.20 -7.10 percent [+]
Manufacturing Production -3.10 -1.70 8.60 -11.80 percent [+]
Capacity Utilization 82.04 80.89 84.62 78.24 percent [+]
New Orders 36.00 22.00 49.00 -37.00 Index Points [+]
Changes in Inventories -1982.00 559.00 4159.00 -3848.00 AUD Million [+]
Bankruptcies 846.00 708.00 1123.00 217.00 Companies [+]
Corporate Profits 98026.00 93796.00 98026.00 12032.00 AUD Million [+]
Total Vehicle Sales 85633.00 83184.00 130300.00 48099.00 [+]
Car Registrations 14330.43 14078.57 14330.43 3990.94 Thousand [+]
Leading Economic Index -0.30 0.10 0.54 -1.10 percent [+]
Small Business Sentiment 0.84 -4.92 18.55 -21.17 [+]
Internet Speed 11063.10 10098.33 11063.10 1922.87 KBps [+]
IP Addresses 9859878.00 9310525.00 13859005.00 5227461.00 IP [+]
Industrial Sentiment 50.90 51.60 57.20 50.90 Index Points [+]
Private Investment -0.50 -1.30 15.70 -8.60 percent [+]
Mining Production 6.50 3.80 25.20 -16.90 percent [+]
Steel Production 428.70 475.78 819.00 238.00 Thousand Tonnes [+]
Services Sentiment 49.10 52.30 58.40 48.70 Index Points [+]
Corruption Index 77.00 77.00 88.60 77.00 Points [+]
Corruption Rank 13.00 13.00 13.00 7.00 [+]
Competitiveness Index 78.85 78.17 78.85 5.08 Points [+]
Competitiveness Rank 14.00 15.00 22.00 14.00 [+]
Composite Pmi 49.30 52.10 58.30 49.10 Index Points [+]
Business Inventories -0.90 0.80 2.80 -2.80 percent [+]
Ease of Doing Business 18.00 14.00 18.00 9.00 [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 0.10 0.54 -1.10 1960 - 2019 percent Monthly
1996=100




Country Last Previous
Argentina -0.80 Jul/19
Australia -0.30 Aug/19
Brazil -0.16 Jul/19
Canada 0.20 Jun/19
Japan 93.60 Jul/19
Mexico -0.90 Jun/19
Russia 1.60 Aug/19
Singapore 108.10 Jun/19
South Africa -0.40 Jun/19
South Korea 114.50 Jul/19
Turkey 2.19 Jul/19
United Kingdom 0.00 Jul/19
United States 128.31 Jul/19


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