Australie L'Indice Économique Avancé

The Westpac-Melbourne Institute Leading Economic Index for Australia was unchanged in April 2025, following a 0.2% decline in the previous month. Meanwhile, the six-month annualized growth rate—which signals the likely pace of economic activity relative to trend over the next three to nine months—slipped to 0.2% from 0.5% in March. The latest data reflects growing uncertainty in global trade and a less supportive commodity price environment. While most of the drag stems from external factors, domestic conditions remain mixed, with slowing labour market momentum and only modest support from current interest rate settings, noted Matthew Hassan, Head of Australian Macro-Forecasting. Westpac projects GDP growth to reach 1.9% year-on-year by the end of 2025, still below historical norms. Meanwhile, the Reserve Bank is expected to adopt a cautious, gradual approach to further easing in July, after cutting the cash rate by 25 basis points in May.