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Commodity Mid Session News

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(19 Mar 2025, 11:11)

Economic Buzz: Australia's leading index signals gradual economic lift in February 2025

The Westpac-Melbourne Institute Leading Economic Index in Australia rose 0.1% month-on-month in February 2025, maintaining the same pace as January. The six-month annualized growth rate increased to 0.8% from 0.6%, indicating a gradual improvement in economic momentum. However, external factors are starting to weigh slightly on growth. Matthew Hassan, Head of Australian Macro-Forecasting, anticipates further RBA rate cuts this year, with the next move likely in May. He expects GDP growth to rise slowly through 2025, reaching 2.2% by year-end, a modest improvement from 1.3% in 2024.
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