A leading indicator of economic activity in Australia signaled sharp loss of growth momentum in the second half of this year, a report from Westpac Bank and Melbourne Institute showed Wednesday.
The Westpac-Melbourne Institute leading index, which indicates the likely pace of economic activity three to nine months into the future, was 0.2 percent in April, well below its long term trend of 2.6 percent.
"The Leading Index is pointing to a sharp slowdown over the second half of this year," Westpac Senior Economist Matthew Hassan said.
The annualised growth rate of the coincident index, which gives a pulse of current activity, was 4.3 percent, well above its long term trend of 3.1 percent.
Another leading indicator for Australian economy compiled by the Conference Board declined 1.4 percent in April, primarily due to a large decline in building approvals.
The Board said that the weakness among the leading indicators was "somewhat more widespread than the strengths in recent months."
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.