A leading economic index for Australia was down 0.1 percent in March, the latest survey from the Conference Board showed on Tuesday - following the 0.5 percent increase in February and the 0.4 percent gain in January.
The leading index slid for the first time after three straight months of gain. Through the last six months, the index added 1.1 percent (about a 2.1 percent annual rate), a reversal its contraction of 1.3 percent (about a -2.7 percent annual rate) over the previous six months.
Among the individual components of the leading economic index, four of the seven components increased, including gross operating surplus, money supply, yield spread and building approvals. Rural goods exports, sales to inventories ratio and share prices declined in March.
The coincident index added 0.5 percent after rising 0.4 percent in the previous month and 0.1 percent in January.
During the six-month period through March, the coincident economic index increased 1.8 percent, with all four components in the series making positive contributions.
Individually, all four components increased in March, including employed persons, household gross disposable income, retail trade and industrial production.
Taken together, the recent behavior of the composite indexes suggests that the current economic expansion will continue in the near term.
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