Just checked Australia's latest economic data and there's something interesting happening. The leading economic index jumped 1.1% in February, hitting 118.5—that's a pretty solid move compared to the barely-there 0.1% gain the month before. What caught my attention though is the bigger picture: over the past six months from August to January, this leading economic index actually surged 2.7%, which is more than double the growth rate from the prior half. Looks like things are accelerating. On the flip side, the coincident index (which tracks current economic activity) also ticked up 0.2% in February to 119.8. Over the same six-month window, it's grown 1.4%—faster than the 0.7% pace we saw earlier. So both the leading economic index and current activity indicators are pointing in the same direction. Whether this momentum holds or we see a cooldown in the coming months will be worth watching.