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Australian leading economic index grows 0.1% in April

Published 06/24/2010, 02:51 AM
Updated 06/24/2010, 02:51 AM

Investing.com - A gauge of the Australian economy's prospects rose 0.1% in April, a private research group said on Thursday.

The rise in the Conference Board's index of leading economic indicators came after an increase of 0.3% in March.

In a statement, the group said: "The strengths among the leading indicators were somewhat less widespread than the weaknesses this month.

"Despite the increase in April, the six-month growth in the leading economic index continued to moderate, to 1.8% (a 3.6% annual rate) between October 2009 and April 2010, down from 2.4% (a 4.9% annual rate) for the previous six months."

Following the release of the data, the Australian dollar was slightly down against its U.S. counterpart, with AUD/USD shedding 0.07% to reach 0.8733.

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