Via Westpac summary comments:
The six-month annualized growth rate of the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to the trend three to nine months from now, improved slightly to -0.01 % in April compared to -0.08% in March.
The growth rate of the leading index stabilizes at –0.01%.
- Growth is slow to dissipate, but momentum is expected to remain weak in 2024.
Signal of improvement mainly coming from actions, hours worked.
The brief “tailwind” in commodity prices has disappeared.
AUD/USD update, under pressure as many currencies try to cope with the strength of the US dollar:
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