Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Index points to economic stabilisation

Staff Reporter 1 minute read

The Westpac-Melbourne Institute Leading Index of economic growth has recorded its first substantive improvement in over a year raising hopes that economic recovery is on the horizon.

The Index, which indicates the likely pace of economic activity three to nine months into the future, rose to -5.1 per cent in March, from -6.0 per cent in February.

Matthew Hassan, Westpac senior economist, said the improvement was consistent with indicators suggesting the pace of global economic contraction had eased in recent months.

Nevertheless, Mr Hassan said economic recovery was unlikely to occur until the last quarter of the year – at the earliest.

“Even if we see similar improvements in the months ahead it will take three or four months for the Index to return to normal levels consistent with positive growth, implying that a recovery in the real economy is unlikely before the December quarter at the earliest.”


Index points to economic stabilisation
default
TheAdviser logo
default

 

more from the adviser
digital home ta Heritage to introduce new origination platform

The non-major bank has teamed up with a credit reporting firm to ...

woman financia counselling ta SA offers free financial counselling to women

At-risk women living in SA will be given access to free financial...

Sam Carrello bc64 WA broker reveals his top tips for hiring staff

Napoleon Finance broker and director Sam Carello has revealed his...

FROM THE WEB