The Westpac-Melbourne Institute Leading Economic Index in Australia tumbled 1.5 percent month-over-month in April 2020, the weakest reading on record, following a downwardly revised 0.7 percent fall in the previous month. Meantime, the six month annualized growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -5.16 percent from -2.34 percent in March. "The speed of the collapse in the Index is unprecedented. We do not expect the economy to return to pre-Coronavirus levels of activity before 2022, " said Westpac’s chief economist, Bill Evans. “The Reserve Bank Board next meets on June 2. As we saw in the minutes for the May meeting the board is committed to maintaining its significant support for the economy for the foreseeable future."

Leading Economic Index in Australia averaged -0.01 percent from 1960 until 2020, reaching an all time high of 0.54 percent in April of 1975 and a record low of -1.50 percent in April of 2020. This page provides the latest reported value for - Australia Leading Economic Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Leading Economic Index - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Westpac Banking Corporation, Melbourne Institute

Leading Economic Index in Australia is expected to be -0.50 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 2021, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Australia Leading Economic Index

Actual Previous Highest Lowest Dates Unit Frequency
-1.50 -0.73 0.54 -1.50 1960 - 2020 percent Monthly
1996=100


Calendar GMT Actual Previous Consensus TEForecast
2020-02-19 12:30 AM Westpac Leading Index MoM Jan 0.05% 0.01% -0.2%
2020-03-18 12:30 AM Westpac Leading Index MoM Feb -0.4% 0.0% -0.1%
2020-04-22 01:30 AM Westpac Leading Index MoM Mar -0.8% -0.4% -1%
2020-05-20 01:30 AM Westpac Leading Index MoM Apr -1.5% -0.7% -2.5%
2020-06-17 01:30 AM Westpac Leading Index MoM May -1.5% -0.9%
2020-07-22 12:30 AM Westpac Leading Index MoM Jun -0.5%
2020-08-19 12:30 AM Westpac Leading Index MoM Jul
2020-09-16 12:30 AM Westpac Leading Index MoM Aug


News Stream
Australia Leading Index Plunges to Record Low
The Westpac-Melbourne Institute Leading Economic Index in Australia tumbled 1.5 percent month-over-month in April 2020, the weakest reading on record, following a downwardly revised 0.7 percent fall in the previous month. Meantime, the six month annualized growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -5.16 percent from -2.34 percent in March. "The speed of the collapse in the Index is unprecedented. We do not expect the economy to return to pre-Coronavirus levels of activity before 2022, " said Westpac’s chief economist, Bill Evans. “The Reserve Bank Board next meets on June 2. As we saw in the minutes for the May meeting the board is committed to maintaining its significant support for the economy for the foreseeable future."
2020-05-20
Australia Leading Index Lowest Since December 2008
The Westpac-Melbourne Institute Leading Economic Index in Australia dropped by 0.8 percent month-over-month in March 2020, the weakest reading since December 2008, following a 0.4 percent fall in the previous month. Meantime, the six month annualized growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -2.47 percent from -0.97 percent in February. “The sharply weaker signal is consistent with a deepening economic impact from the coronavirus pandemic. The Leading index growth rate in March is the most negative seen since the Global Financial Crisis," said Westpac’s chief economist, Bill Evans, adding that the Reserve Bank of has confirmed its commitment to not increase the cash rate of 0.25% before bond yield target was relaxed.
2020-04-22
Australia Leading Index Falls to Over 11-Year Low
The Westpac-Melbourne Institute Leading Economic Index in Australia dropped by 0.4 percent month-over-month in February 2020, the weakest reading since December 2008, following a downwardly revised flat reading in the previous month. Meantime, the six month annualized growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -0.96 percent from -0.49 percent in January. "On March 9, we forecast that the Australian economy would experience a recession in 2020, contracting by 0.6% in the first half although we expected growth in the second half of 2.2% as the economy recovered from the disruption associated with COVID-19. Our central assumption was that the virus threat would peak in the June quarter and by quarter’s end confidence and activity would begin to recover," said Westpac chief economist, Bill Evans.
2020-03-18
Australia Leading Index Rises 0.05% MoM in January
The Westpac-Melbourne Institute Leading Economic Index in Australia rose by 0.05 percent month-over-month in January 2020, following a downwardly revised 0.01 percent increase in the previous month. Meantime, the six month annualized growth rate in the index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell to -0.46 percent from -0.28 percent in December. “The growth rate in the Leading Index remains below zero, indicating momentum will track well below trend. In fact, the January print represents the fourteenth straight month that the Index growth rate has been negative. This has been consistent with the persistent below trend growth we have seen for the Australian economy”, said Westpac chief economist, Bill Evans.
2020-02-19

Australia Leading Economic Index
The Westpac-Melbourne Institute Leading Index of Economic Activity combines a selection of economic variables that typically lead fluctuations in economic activity into a single measure that provides a reliable cyclical indicator for the Australian economy. The index includes the following components: S&P/ASX 200, dwelling approvals, US industrial production, RBA Commodity Prices Index (A$), aggregate monthly hours worked, Westpac-MI CSI expectations index, Westpac-MI Unemployment expectations index, yield spread (10Y bond – 90D bill). The index has a base value of 100 as of 1996.