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. source: Melbourne Institute

Leading Economic Index Australia increased 0.10 percent in April 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 May of 2026.

Leading Economic Index Australia increased 0.10 percent in April of 2026 over the same month in the previous year. Leading Economic Index in Australia is expected to be -0.20 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
2026-04-22 01:00 AM
Westpac Leading Index MoM
Mar -0.1% -0.1% 0.2%
2026-05-27 01:00 AM
Westpac Leading Index MoM
Apr 0% -0.1% -0.3%
2026-06-17 01:00 AM
Westpac Leading Index MoM
May 0%


Related Last Previous Unit Reference
Bankruptcies 1101.00 1306.00 Companies Apr 2026
Building Capital Expenditure -3.80 2.50 percent Mar 2026
NAB Business Confidence -24.00 -29.00 points Apr 2026
Business Inventories -0.10 -0.80 percent Dec 2025
Capacity Utilization 77.70 73.70 percent Apr 2026
Passenger Car Sales 11005.00 13101.00 Units Apr 2026
Changes in Inventories 657.00 -1801.00 AUD Million Dec 2025
Composite Leading Indicator 100.92 100.85 points Apr 2026
Company Gross Profits 133922.00 126530.00 AUD Million Dec 2025
Corruption Index 76.00 77.00 Points Dec 2025
Corruption Rank 12.00 10.00 Dec 2025
Industrial Production 2.70 0.10 percent Dec 2025
Industrial Production Mom 1.60 -0.20 percent Dec 2025
Ai Group Industry Index -24.40 -34.20 points Apr 2026
Ai Group Services Index -24.40 -23.60 points Apr 2026
Ai Group Construction Index -19.30 -57.10 points Apr 2026
Ai Group Manufacturing Index -27.90 -28.60 points Apr 2026
Westpac Leading Index MoM 0.10 -0.10 percent Apr 2026
Manufacturing Production 1.10 -1.90 percent Dec 2025
Mining Production 3.80 0.40 percent Dec 2025
New Orders 35.00 23.00 points Dec 2025
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 92591.00 105058.00 Units Apr 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 -0.10 0.69 -1.92 1960 - 2026 percent Monthly
1996=100

News Stream
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
Australia Leading Index Remains Weak
The Westpac–Melbourne Institute Leading Economic Index inched down 0.1% month-on-month in March 2026, matching February's reading. Meanwhile, the six-month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, declined to –0.13% in March from 0.05% in February. Higher interest rates and the spike in fuel prices associated with the conflict in the Middle East are starting to weigh on growth momentum, albeit fairly mildly, according to Westpac economist Matthew Hassan. The March Index already points to a period of below-trend growth over the remainder of 2026. While the growth pulse is not overly weak, it is the first below-trend read since August last year and, before that, since the extended period of weakness during the ‘cost-of-living’ crisis of 2022–2024. Westpac expects the Reserve Bank to raise the cash rate by another 25bps in May, with further moves likely in subsequent months.
2026-04-22
Australia Leading Index Inches Down
The Westpac–Melbourne Institute Leading Economic Index edged lower 0.1% month-on-month in February 2026, following an upwardly revised flat reading in the previous month. Meanwhile, the six-month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, held at 0.08%, unchanged from January but down from more firmly positive reads seen late last year. Momentum remains slightly above average in early 2026 but is expected to fade as the central bank’s latest rate hike takes hold and the broader impact of the Middle East conflict emerges. Westpac projects Australia’s GDP growth to slow to 2% in 2026, down from 2.5% last year, underscoring a weakening trend below the nation’s long-term pace. On the monetary front, economist Matthew Hassan noted another 25bp rate hike is likely at the May meeting.
2026-03-18