The Conference Board Leading Economic Index® (LEI) for Australia increased 0.5 percent in July to 129.0 (2004 = 100), following a 0.2 percent increase in June, and a 0.2 percent decline in May.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, increased 0.1 percent in July to 125.0 (2004 = 100), following a 0.1 percent increase in June, and no change in May.
The Conference Board LEI for Australia increased in July, after remaining flat over the previous three months. As a result, its six-month growth rate has declined in recent months and is considerably lower compared to the second half of last year. Meanwhile, the six-month growth rate of the CEI for Australia has moderated in recent months, and is lower compared to six months ago. Taken together, the recent behavior of the composite indexes suggests that the economic expansion will continue in the near term, but is not likely to accelerate.
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