Australia’s Westpac Leading Index moved decisively into positive territory in October, rising from -0.20% in September to +0.26%.
This marks a significant shift, as the index had been hovering in slight negative territory, between -0.3% and flat, for most of the past year. The October reading is not only the first clear above-trend result since November 2023 (+0.16%) but also the strongest since July 2022 (+0.63%).
The improvement in the index provides a “constructive signal” for the economy’s future momentum. Westpac’s outlook aligns with this shift, forecasting an acceleration in economic growth from a nadir of 1.0% in mid-2024 to 1.5% by year-end and 2.4% by the end of 2025.
 but also the strongest since July 2022 (+0.63%).){kind=link}