Australia’s Westpac Leading Index – a gauge of economic performance over the coming six to nine months – slowed for the second consecutive period in May, adding 6.7 percent from the previous year after rising 7.5 percent in April. Westpac chief economist Bill Evans said it appears growth in the index has peaked but added it remains “remarkably high” relative to trend growth rate of 3 percent, adding that “despite the slowing, the current growth rate… is still indicative of a stronger outlook for [the economy] in the near term.”
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