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Economy Up Again Down Under, But . . .

By John S. McClenahen The Conference Board's index of leading economic indicators for Australia rose for the second consecutive month in October, the latest month for which data are available. October's increase was 0.3% and brings the leading index to 154.6 (1990=100). However, the Conference Board, a New York business research group, notes "large downward revisions" to data from previous months, resulting in the growth rate of the leading index slowing to an annual rate of 2% to 3% in recent months from its annual rate of 5% during the first six months of 2004.

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