Australia – May Leading Indicator of Employment
16/05/2018 02:57 pm MYT
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The revised monthly leading indicator of employment remained largely stable in May after rising for seven consecutive months. The declines in the NBSC Purchasing Managers’ Index for Manufacturing Output in China and the Westpac-Melbourne Institute Consumer Sentiment Index were mostly offset by increases in the Westpac-Melbourne Institute Leading Index of Economic Activity and the NAB Forward Orders Index.

On the other hand, the cyclical employment index continued its second month of decline after rising for thirteen consecutive months. As the leading indicator leads cyclical employment by roughly one year, employment is likely to fall below the long-term trend growth rate in near term – see figure 1.

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