Australia’s leading index signalled sluggish and below-trend growth in May, Westpac said Wednesday.
The six-month annualized growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose slightly to -0.17 percent in May from -0.18 percent in April.
Westpac said sluggish and below-trend growth momentum is likely to continue through the second half of this year and into early 2027.
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