The Australian economy picked up steam in December, the latest survey from Westpac Bank revealed on Wednesday as its leading economic index moved higher by 0.27 percent on month.
That follows the downwardly revised 0.05 percent increase in November (originally 0.10 percent) - although it remains in positive territory.
"This is a very strong above trend reading and, following the solid results in October and November, points to solid above trend growth in the early part of 2018," Westpac said in a statement accompanying the data.
"However, in our view there are still key negatives around housing, household incomes and the consumer which are likely to challenge the sustainability of any upswing in 2018."
by RTT Staff Writer
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