Australia's Economic Growth Slows as Westpac and MI Leading Indices Fall in August

Australia's Westpac Leading Index for August fell by 0.05% month-on-month, indicating a continued slow growth trajectory for the economy. This decline follows a previous reading of -0.04% and a revised figure of -0.03% for the same period. Additionally, the Melbourne Institute (MI) Leading Index for August showed a decrease of 0.1%, compared to a previous reading of 0.0%. These indicators suggest that Australia's economic growth remains sluggish.