Australia’s leading index signaled above trend growth in both the September and December quarters, 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 to +3.25 percent in October from -0.47 percent in September.

This was the first positive, above trend, growth rate since November 2018 and also the strongest seen since the early 1980s.

However, Westpac said the momentum will slow in 2021 as the sharp initial improvement in activity due to the easing of domestic restrictions ends.

Notably, recent reports indicating earlier than expected progress around vaccines suggest these could provide a significant and welcome boost that offsets the expected ‘soft patch’ in the June/September quarters of 2021.

Bill Evans, chief economist at Westpac said the Reserve Bank Board will be focused on assessing the impact on the economy of their quantitative easing program over the course of the first half of 2021.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.