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The Conference Board's Leading Economic Index for Australia increased by 0.7 percent in July, while the corresponding coincident Index was unchanged.
The private sector think tank reported Wednesday that the Leading index was boosted by large positive contributions from stock prices, the yield spread and building approvals. Those factors more than offset negative contributions from gross operating surplus and exports of rural goods.
The Conference Board cautioned that there were downward revisions to its index for the preceding four months, based on actual data for the second quarter.
The Coincident Index, which measures current economic activity, was flat, with the board noting that strengths among the coincident components were more widespread in July.
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