Economic indicators point to negative growth in Melbourne but with a future upturn – except for hous

According to the Westpac-Melbourne Institute Leading Index – an indicator of the likely pace of economic activity three to nine months into the future, there has been a slight increase in negative economic activity relative to trend from – 0.16 percent in August down to – 0.21 percent in September.

Westpac’s chief economist, Bill Evans, says that while “While the Index only gives us a glimpse of the likely momentum in the first few months of 2018, it is consistent with our v