KEY POINTS:
SYDNEY - The Australian economy is poised for stronger growth in the next three to nine months, a private sector survey showed today.
The annualised growth rate of the Westpac-Melbourne Institute Leading Index of Economic Activity was 5.7 per cent in February, compared with 4.9 per cent in January.
It also was above its long-term trend of 4.1 per cent.
"The growth rate of the index has remained consistently and comfortably above the long-term trend in 2006 and now into 2007," Westpac chief economist Bill Evans said.
"Indeed, the current growth rate represents a solid improvement on the last three months. The index continues to point to an acceleration in economic growth over the next three to nine months."
- REUTERS
