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.
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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.
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Signal of improvement mainly coming from actions, hours worked.
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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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