Westpac with the note. It’s obvious to me that the RBA has overtightened and inflation is going to evaporate.
The six-month annualised growth rate in the WestpacMelbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, was –0.97% in December, largely unchanged on the –0.96% read in November.
December marks the fifth consecutive month that the growth rate has been negative.
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