An index measuring the outlook for the Australian economy moved up 0.3 percent in September, the Conference Board revealed on Tuesday, following the 0.2 percent contraction in August and the 0.2 percent gain in July.

The board's coincident index added 0.1 percent following no change in the previous two months.

The leading index is continuing a slight upward trend, the Conference Board said, while the coincident index has shown little movement through the last six months.

Through the last six months, the leading index had added 0.6 percent, while the coincident has gained 0.2 percent.