Welcome to the September edition of the Market Update.
Equities traded in a relative tight range in August but finished modestly higher whilst crude oil prices recovered 7.5% on talks of possible production freezes from OPEC and non-OPEC countries.
China economic data was a little softer with declines in industrial production and retail sales growth.
It was mixed data from the US with the July non-farm payrolls figure better than expected, which lead US Federal Reserve officials to begin talking about further interest rate rises.
Economic data in Europe was a little softer with the core annual inflation rate slipping from 0.9% to 0.8% in August.
Australia’s economy grew at the strongest annual rate in four years with growth of 3.3% year-on-year in the June quarter. However, household consumption growth was weaker while government spending was much stronger than in the prior quarter.
If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly.