| While the Australian economy still appears set for more sub-trend growth, a survey has found that sentiment improved in May as the commodity price burden began to ease.
The monthly Westpac-Melbourne Institute leading index showed that the expected six-month annualised growth rate, which assesses likely growth against the long-term trend, had improved from 1.19 per cent below trend in April to minus 0.42 per cent in May — the best reading since October. The index had bottomed in March at -1.53 per cent — its weakest print in five years — but has improved in ensuing months as commodity prices regained their footing...............................................Full Article: Source
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