Australia's Westpac announced that the Westpac Leading Index for February rose by 0.08% on a six-month annualized growth rate, remaining roughly flat month-on-month, but the upward trend has slowed compared to the end of last year. This index reflects the potential growth rate of economic activity over the next three to nine months.

The bank stated that economic growth momentum has remained above average at the beginning of this year, but is expected to slow in the coming months due to the impact of recent interest rate hikes by the Reserve Bank of Australia and the gradual manifestation of the effects of the ongoing conflict in the Middle East. The bank expects Australia's GDP growth to slow to 2% this year, down from last year's 2.5% increase, and also below the trend. The bank anticipates clearer data will emerge between March and April