The Westpac Melbourne Institute Leading Index has seen a slight improvement in its six-month annualized growth rate, indicating a stabilization in the economic pace.
Westpac argues this is in line with the idea that the main drawbacks of the past two years, such as rising interest rates, increased living expenses, and soaring tax revenues, are beginning to lessen.
Inflation has already significantly moderated over the past six months, and the Reserve Bank of Australia’s aggressive rate-hiking program has come to a stop.
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