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2026-09-16 09:28:09
[Westpac: Australian Economy Slowly Stabilizing Rather Than Stagnating, Year-End Growth Forecast Revised Up to 1.5%] (1) The Australian economy has not stagnated, but it is not performing exceptionally well either. The Westpac-Melbourne Institute Leading Index rose from -0.17% in July to -0.09% in August. (2) Westpac economist Matthew Hassan said the country's economy has performed better than expected in the face of global energy shocks and rising interest rates. (3) He added that economic growth appears to be stabilizing at a slow pace rather than stagnating; households are resilient, and a significant increase in data center investment has also provided substantial support. (4) Westpac now expects annual growth to slow to 1.5% by the end of the year, up from its previous forecast of 1%.
