The Conference Board's leading economic indicator for Australia increased 0.2 percent month-on-month in March after a flat reading in February.
Rural goods exports and money supply made the largest contributions to the gain this month. Despite the latest gain, the index has not yet fully recovered from a series of declines through December. Its six-month growth has remained negative since November.
The coincident index, a measure of current economic activity, increased 0.4 percent in March. The rate of growth of this index has remained fairly stable so far.
The Conference Board said that despite some rising risks highlighted by the leading indicators in exports and housing sectors, the recent behavior of the composite indexes suggests that moderate economic growth is likely to continue in the near term.
by RTT Staff Writer
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