The Conference Board Leading Economic Index® (LEI) for Australia increased 0.2 percent in May to 129.7 (2004 = 100), following a 0.2 percent decline in April, and a 0.2 percent increase in March.
At the same time, The Conference Board Coincident Economic Index® (CEI) for Australia, a measure of current economic activity, was unchanged in May at 125.1 (2004 = 100), following a 0.2 percent increase in April, and a 0.2 percent increase in March.
The Conference Board LEI for Australia edged up slightly in May, but has been relatively flat in the past three months. As a result, its six-month growth rate has moderated in recent months compared to the second half of 2013. Meanwhile, the six-month growth rate of the CEI for Australia has been relatively stable. Taken together, the recent behavior of the composite indexes suggests that economic expansion is unlikely to gain momentum in the near term.