Just caught Australia's leading economic index jumping 1.1% in February—pretty solid move if you ask me. The LEI hit 118.5, which is interesting because we're seeing momentum building over the past few months. From August through February, this economic index surged 2.7%, more than double what we saw in the first half of that period. That's the kind of acceleration that usually signals something is shifting in the economy. The coincident index also ticked up 0.2% in the same month, reaching 119.8. Over the same six-month stretch, it climbed 1.4%—faster than the prior period's 0.7%. So basically, Australia's leading economic indicators are telling us growth is picking up pace. Whether this momentum holds will be worth watching over the next couple months.