Australia's Leading Index Rises Slightly

ByJohn S. McClenahen The leading economic index for Australia increased 0.1% in May, the most recent month for which data are available, reports the New York-based Conference Board, a business research group. Australia's leading index now stands at 151.4 (1990=100). "The leading index continued increasing in May, although the gains in the last several months have been small," notes the Conference Board. "As a result, the current growth rate of the leading index has slowed into the 1.5%-2.0% range (annual rate), down from about a 3.0% rate in the second half of 2003."