Economic Buzz: Australia Westpac Leading Index Indicates Slower Growth

Australia leading index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, dropped to +0.11 percent in May from +0.83 percent in April, data from Westpac showed Wednesday. Although the May update was the weakest since last September, the index growth rate still indicates that momentum is running above trend, Westpac said.