The six-month annualised development price within the Westpac-Melbourne Institute Main Index, which signifies the probably tempo of financial exercise relative to pattern three to 9 months into the longer term, fell from -1.09% in September to -1.19% in October.
The expansion price of –1.19% is a brand new post-pandemic low
Extra from WPAC’s observe:
- Sign per sustained weak development in 2023.
- Key drivers of the slowdown are: financial coverage tightening; falling commodity costs; and softness in jobs development as capability constraints chew.
