Wednesday 22nd February 2012

Leading index “subdued”

by Alan Thornhill

A leading index, produced by the Westpac bank and the Melbourne Institute, remains subdued.

The index, which points to likely levels of activity, over the coming three to nine months, is now indicating sub par growth in that time.

“Despite a slight up-tick in December, the growth rate in the Index remains relatively subdued after dropping back sharply from a 4.6 per cent pace recorded in August,” Westpac Senior Economist, Matthew Hassan, said.

“There was a loss of momentum over the second half of last year with the growth pulse heading into 2012 materially below trend.”

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Alan Thornhill is a parliamentary press gallery journalist. Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.

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