Australia data - Westpac leading index (June) fell, but still indicates trend growth

Summary points from WPAC's report: * Growth rate slows to 0.40% from 0.56% * Still indicating above trend growth momentum near term * Slowing pace points to economic slowdown later in 2022 And, further: * The June Index is capturing the very early impact of central bank tightening cycles. * Westpac currently expects growth to slow from 4% in 2022 to 2% in 2023. That outlook is highly dependent on the profile for the Reserve Bank’s tightening cycle. * Despite the recent slowing, the Index growth rate is still up on the start of the year. This article was written by Eamonn Sheridan at www.forexlive.com.
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