The Westpac-Melbourne Institute Leading Economic Index in Australia decreased by 0.1 percent month-over-month in November of 2018, after a downwardly revised 0.08 percent rise in the previous month. Meanwhile, the six month annualized growth rate in the index, which indicates the likely pace of economic activity three to nine months into the future, rose to 0.43 percent from 0.1 percent in October. “This latest lift in the index growth rate comes as a surprise but does not override the general message from the index over most of 2018.” said Westpac chief economist, Bill Evans. Leading Economic Index in Australia averaged 0 percent from 1960 until 2018, 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 0.10 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 0.00 in 12 months time. In the long-term, the Australia Leading Economic Index is projected to trend around 0.10 percent in 2020, according to our econometric models.