wrapper

Australian MI Leading Index up by 0.1%

Wednesday, Dec 20 2017
Australian MI Leading Index up by 0.1%

The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, lifted from +0.51% in October to +0.69% in November. Westpac’s Chief Economist, Bill Evans, commented, “This is a strong above trend reading and, following the solid result in October, points to some of the headwinds to growth evident earlier in the year having eased. That said, there are still key negatives around housing, household incomes and the consumer which are likely to contain any upswing in 2018.”

While the Index appears to have recovered from the slow patch in June /August, it is still well below the levels it enjoyed over the six months to May when the average growth rate reading was +1.12%.In June, the growth rate printed –0.41% compared to November’s reading of +0.69%. The main component contributions to the lift over this period have been: commodity prices in AUD terms (+0.38ppts ); dwelling approvals (+0.20ppts); the Westpac MI Consumer Sentiment expectations Index (+0.19ppts); the Westpac MI Unemployment Expectations Index (+0.18ppts); a steeper yield curve (+0.18ppts); and the S&P/ASX200 Index (+0.09ppts).

More in this category: « U.S. Single-Family Housing Starts Rise to Highest in a Decade Eurozone Current Account recorded surplus of €30.8 billion »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.