This data piece is not an FX mover.
It has been more or less flatlining for months.
For October comes in at up 0.08% m/m (barely changed)
- September result has been revised up to -0.2% from -0.06%
The 6 month annualised growth rate for the index is used to show the pace of growth 3 to 9 months out (the likely pace of growth, I should clarify). For octo its +0.08% also, from +0.41% in September.
Westpac:
- indicates slowing momentum into the new year
- Westpac expects momentum to slow to around 2.5% in the second half of 2018, which will be slightly below trend, with this slower pace to be sustained through 2019 at around trend of 2.7%.
