Westpac Leading index for February, -0.15% m/m
- The previous is revised up to +0.12% (from -0.04%)
Comments from WPAC on the result (bolding mine):
- The six month annualised deviation from trend growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, rose from -0.99% in January to -0.82% in February.
- Despite some improvement over the last two months, the Leading Index continues to point to below trend growth through much of 2016, implying a slowdown from 2015's slightly above trend pace.
- The Index has since weakened significantly, with the six monthly annualised growth rate averaging 0.67% below trend since mid- 2015. That is a clear signal that growth is set to return to the more sluggish 2-2½% GDP growth rates seen in 2014.
