The Conference Board Leading Economic IndexforAustraliadecreased 0.8 percent in June to 118.2 (2004 = 100), following a 0.2 percent decrease in May, and a 0.1 percent increase in April.

At the same time,The Conference Board Coincident Economic IndexforAustralia, a measure of current economic activity, increased 0.1 percent in June to 117.9 (2004 = 100), following a 0.1 percent decrease in May, and a 0.1 percent decrease in April.

The Conference Board LEI forAustraliacontinued falling through June, and its six-month growth rate has declined sharply in the first half of the year. At the same time, The Conference Board CEI forAustraliahas been essentially flat since the beginning of this year, and its six-month growth rate has also slowed compared to the second half of last year. Taken together, the current behavior of the composite indexes suggests that economic activity will remain weak in the near term.