Welcome to the March edition of the Market Update.

Global equity markets continued to correct through February but staged an early March recovery and Oil prices staged a strong recovery from mid-February – up 37%.

US economic data continued to improve, whilst in China economic data continued to consolidate and target minimum growth of 6.5%.

In the Eurozone the February manufacturing Purchasing Managers Index (PMI) was a little weaker than January’s data, and the Markit manufacturing PMI index was down at 51.2 in February, from 52.3 in January.

Back home the Australian non mining sector continued a solid recovery, and the RBA maintained the cash rate at 2.0% at its early March meeting.

If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly.

 

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Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs.

GWM Adviser Services Limited ABN 96 002 071 749 trading as Garvan Financial Planning, registered office 105 – 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies.  From time to time Garvan Financial Planning, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non-pecuniary benefits from the financial products and services mentioned herein.