Weblogic

The pace of the Australian economic recovery has progressed remarkably. The Australian Westpac-Melbourne Institute leading economic index, a measure of future economic activity, increased 1.0% m/m to 256.8 in November, with its annualized growth rate accelerating to 7.6%, the fastest pace since November 2007, from October’s 5.8%, Westpac Banking Corp. and the Melbourne Institute reported. The coincident index, measuring current economic activity, increased 0.2% m/m to 244.6 in November, with its annualized growth rate increasing to 0.5% following October’s flat reading.