The outlook for the Australian economy slipped in August, the latest survey from Westpac Bank and the Melbourne Institute showed on Wednesday as its leading economic index eased 0.3 percent.
That follows the upwardly revised 0.1 percent increase in July (originally flat).
“This print of the Leading Index is casting some early doubt around the bank’s forecast of 3 percent growth for 2016. However the bank is still expecting that the unemployment rate has stabilized despite growth in 2015 likely to be in the 2-2.5 percent range,” said Westpac economist Bill Evans.
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