The April Conference Board Leading Index for Australia down 0.3% m/m

Coincident index +0.1% m/m

Leading indicators:

  • Four of the seven components increased in April
  • Increases in sales to inventories ratio, money supply, gross operating surplus, and the yield spread
  • Declines: . Building approvals, share prices, and rural goods exports
  • During the six-month period through April, the leading economic index increased 1.8 percent, and all seven components increased

Coincident indicators:

  • 3 of the 4 increased in April: household gross disposable income, retail trade, and industrial production
  • 1 declines, employed persons declined in April
  • During the six-month period through April, the coincident economic index increased 1.4 percent, with all four components in the series advancing


Note - Westpac also publish a leading index for Australia, for example: Westpac Leading Index for May -0.12%

Highlights (lowlights?) from the most recent (published last week):

  • Australian economy appears to have suffered a loss of momentum ... a concern given the recent reduction in interest rates
  • Nearly every component contributed to the decline
  • Consumer sentiment posted a large reversal