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The outlook for economic growth remains grim as global factors, domestic interest rate hikes and expectations of a softening labour market weigh on Australia's prospects.

The Westpac-Melbourne Institute leading index has recorded a sixth consecutive month with a negative growth rate, after recording a weak reading of -1.04 per cent for January, compared to -1.09 per cent in December.

The index, which indicates the likely pace of economic activity three to nine months into the future, continues to point to below-trend growth.

Westpac chief economist Bill Evans said the leading indicator aligned with the bank's expectation for economic growth to ease to a "stalling speed" by the second half of 2023.

"The leading index growth rate has seen a sharp deterioration over the last six months, going from running 0.76 per cent above trend in July to 1.04 per cent below trend in January," he said.

Five of the eight domestic and international index components indicate growth expectations sunk over the month, including easing commodity prices, slowing US industrial production, a sharp narrowing in the yield spread as central banks hike interest rates and a softening in consumer expectations for the labour market.

Gains in the share market, a likely "temporary bounce" in dwelling approvals and stabilising consumer expectations somewhat offset those declines.

"Growth in the Australian economy is slowing, as the impacts of the last year's substantial tightening of monetary policy flow through," the Melbourne Institute said.

"Stronger-than-expected underlying inflation in the December quarter firmed expectations of several further interest rate increases this year."

Mr Evans said recent hawkish commentary from the Reserve Bank of Australia implies an upside risk to Westpac's view that the cash interest rate will peak at 3.85 per cent in this cycle, compared to 3.35 per cent now.

Meanwhile, the Australian Bureau of Statistics will release key wages data for the December quarter on Wednesday.

The consensus is for one per cent quarterly growth in the wage price index and 3.5 per cent over the year, following a 3.1 per cent lift in September.

But a higher result could put pressure on the RBA to hike interest rates by more than expected.

NAB markets economist Taylor Nugent said the RBA was not yet worried about the pace of wages growth hampering the bank's ability to drive inflation down but it was concerned about a possible shift in wage and price-setting behaviour.

"Wages growth sustaining above four per cent is unlikely to be consistent with inflation returning to the two-three per cent target, while acceleration well beyond that level would also likely cause the RBA to question their assessment that 'wages growth remained lower here than elsewhere'," he said.

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Workers are likely enjoying decent pay growth but a surprise uptick in wages could signal entrenched inflation and spell more interest rate hikes to counter it.

The Australian Bureau of Statistics will release the wage price index for the December quarter on Wednesday.

The consensus is on one per cent quarterly growth and 3.5 per cent over the year, following a 3.1 per cent lift in September.

But a higher-than-expected result could put pressure on the Reserve Bank to hike interest rates further than already priced in.

NAB markets economist Taylor Nugent said the RBA was not yet worried about the rate of wages growth hampering the bank's ability to drive inflation down but it was concerned about a possible shift in wage and price-setting behaviour.

"Wages growth sustaining above four per cent is unlikely to be consistent with inflation returning to the two-three per cent target, while acceleration well beyond that level would also likely cause the RBA to question their assessment that 'wages growth remained lower here than elsewhere'," he said.

A separate measure of wage growth across small and medium-sized businesses collected by private firm Employment Hero revealed a 1.6 per cent uptick in median hourly wages over January.

The index - which captures the full amount landing in bank accounts, including bonuses and allowances - showed hourly wages climbing by 7.9 per cent in the 12 months to January.

Hourly pay rates grew the most for workers in health care and community services, lifting 3.2 per cent since December, followed by retail, hospitality and tourism wages, which observed 1.7 per cent growth.

Employment Hero chief executive officer Ben Thompson said the uptick in wages signalled the second month in a row of growth after stagnating through October and November.

"Despite harsh economic conditions, we're still in a candidate-driven market with more job postings but fewer qualified candidates," he said.

He said this could be driving up wages in industries requiring specialised skill sets such as construction and health care.

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The case of a high-profile man accused of rape is set to return to Toowoomba Magistrates Court.

The man faces two charges of raping a woman in October 2021, with his second hearing listed for Wednesday.

He cannot be named for legal reasons as under Queensland law, the identity of accused rapists cannot be revealed until they are committed for trial.

The man's lawyer Rowan King said during the previous hearing in January that his client was interstate but he would be available on the phone.

Mr King had submitted a medical report about why the man could not appear.

The accused was granted bail on his own undertaking on the condition he does not contact the complainant and that he surrenders his passport.

Prosecutors were also expected to have handed the accused a police brief of evidence by February 15.

The Queensland government last year announced it would change legislation to allow accused rapists to be named earlier in legal proceedings, in line with a recommendation of the Women's Safety and Justice Taskforce.

© AAP 2023