The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.2 percent month-over-month in September of 2020, after a 0.5 percent gain in August. Meantime, the six-month annualized growth, which indicates the likely pace of economic activity relative to trend three to nine months into the future, improved to -0.48 percent in September from –2.28 percent in August. “Momentum continues to show a significant improvement consistent with the Australian economy moving out of recession," said Westpac chief economist Bill Evans. "We expect that growth in both the September and December quarters will be clearly in positive territory, as the Australian economy opens up. We have also revised up our growth forecasts for 2021 and 2022 following the announcement of the Federal Budget. Consistent with the steady progression in the leading index, we expect growth of 2.8 percent in 2021 and 3.5 percent in 2022."
Leading Economic Index in Australia averaged -0.01 percent from 1960 until 2020, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.76 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 2020. source: Westpac Banking Corporation, Melbourne Institute
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 0.20 in 12 months time. In the long-term, the Australia Leading Economic Index is projected to trend around 0.20 percent in 2021, according to our econometric models.