AAP General News (Australia)
04-21-2010
Fed:Economic growth to accelerate above trend in 2010:Westpac
Economic growth figures for this year look set to put more pressure on the Reserve
Bank to raise interest rates again.
The Westpac-Melbourne Institute leading index for February .. released today .. measures
7.2 per cent .. well above its long-term trend of 2.8 per cent.
The index .. which indicates the likely pace of economic activity three to nine months
into the future .. grew at its fastest pace since 1997.
Westpac chief economist BILL EVANS says it's a stronger outlook than Westpac's current
forecast for growth.
It's also stronger than the trend growth pace for this year which the Reserve Bank
board forecast in the minutes of its April board meeting .. released yesterday.
AAP RTV cb/rl/crh
KEYWORD: ECONOMY (CANBERRA)
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