More on the Australian leading index posted earlier - "solid rebound"

I posted the results for this data point earlier

• Australia Westpac Leading Index (July): +0.01% m/m (prior +0.01%)

Westpac now with an (this in summary) analysis:

• The index has posted a solid rebound from last month's below trend read
• Despite this, the Leading Index growth rate has still slowed materially since the start of the year, from +1.31%in February to +0.55% in July
• Over the course of the last six months the Index has only dipped below zero on the one occasion which was last month. That is sending a more positive signal around the growth outlook than we are expecting at Westpac.
• We are expecting growth over the remainder of 2018 and into 2019 to hold slightly below trend particularly in light of an uncertain outlook for the consumer. Falling property prices; amid a slowdown in jobs growth; fading jobs confidence and high household debt are likely to create headwinds for growth.