Bye, bye Botox Boom, via Westpac:
• The six month annualised growth rate in the Westpac–Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, dropped from +0.05% in May to –0.33% in June.
This is the first below trend reading since September last year and the weakest index growth rate since July 2017.