According to data released today by Westpac, Australia’s index of leading economic indicators, which reflects the dynamics of the economy in the next 3-9 months, rose by only + 0.06% in September, compared with flat last month. In annual terms, this index increased 0.58% versus + 0.15% prior. Experts note that the September value of the index for the second consecutive time goes above trend and is the strongestvalue recorded from December of 2013.
All components of the index showed an improvement:
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nearly two-thirds of the increase of the indicator due to the increase in commodity prices to +0.51 p .;
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moderate recovery in industrial production amounted to + 0.40%
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global financial conditions improved + 0.20%.
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stabilization of the labor market
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there is support from consumer sentiment and construction permits to +0.15 p. p.
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