Another barely changed result
WPAC:
The six month annualised growth rate in the Westpac Melbourne Institute Leading Index, )this indicates the likely pace of economic activity relative to trend three to nine months into the future) fell from -0.04% in July to-0.19% in August.
- Negative for a 2rd consecutive month
- Points to continuation of below trend economic momentum
Westpac's Chief Economist, Bill Evans, commented,
- "The growth rate remains negative for a third consecutive month pointing to below trend momentum and a sharp turn around from strong positive, above trend reads at the start of the year.
Westpac continues to expect rates will remain on hold in 2018.
