Outlook strongly rebounds in Dec: Westpac

The Westpac-Melbourne Institute Leading Index shows that the economic outlook has been above or at trend for five months.

The economic outlook rebounded strongly in December indicating a solid pick up in activity in the first half of the current year.

The Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity nine months into the future, rose to 1.28 per cent in December, from 0.00 per cent in November.

Westpac chief economist Bill Evans said the run of five consecutive above or at trend readings was signalling a better outlook for the first half of 2017.