Powered by MOMENTUM MEDIA
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.”

Advertisement
Advertisement

Index points to economic stabilisation
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB