Australian economic growth is losing momentum in the middle and second half of the year.
The latest Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, fell to minus 0.49 per cent in July, from 0.02 per cent in June.
Westpac chief economist Bill Evans said the encouraging signs that the economy was showing earlier in the year had been short-lived.
"That profile is certainly in line with Westpac's forecasts that annualised growth pace in the economy will be stuck around 2.5 per cent in both halves of 2015," he said.
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