The Westpac-Melbourne Institute Leading Economic Index in Australia dropped by 0.1 percent month-over-month in May 2019, the same pace as in the previous month. Meantime, the six-month annualized growth rate, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose slightly to -0.45 percent in May from -0.49 percent in April. Leading Economic Index in Australia averaged 0 percent from 1960 until 2019, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.10 percent in December of 2008.
Leading Economic Index in Australia is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Australia to stand at -0.10 in 12 months time. In the long-term, the Australia Leading Economic Index is projected to trend around 0.20 percent in 2020, according to our econometric models.