The Conference Board Leading Economic Index® (LEI) for Australia declined 0.4 percent in August to 103.4 (2010 = 100), following a 0.3 percent increase in July, and a 0.3 percent decline in June.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, increased 0.2 percent in August to 108.6 (2010 = 100), following a 0.2 percent increase in July, and a 0.1 percent increase in June.
The Conference Board LEI for Australia decreased in August and has declined in five of the last six months. As a result, the six-month growth rate of the LEI has moved further into negative territory. Meanwhile, the CEI for Australia continues to increase moderately, although the six-month growth rate has eased. Taken together, the downward trend in the LEI and the moderating growth rate of the CEI suggests downside risks to Australia's growth will persist in the near term.
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