Australia’s economic momentum stalls

Tuesday 23 September 2025

After recording stronger than expected growth in the June quarter, it appears that Australia’s economy is stalling once more.

Last week, the Westpac–Melbourne Institute Leading Index was released, which fell back to –0.16% in August from +0.11% in July.

It was the first below-trend reading since September 2024, suggesting that momentum has slowed.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.