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Market Update September 2017

  • Domestic share market has fallen around 50 points or just under 1%.
  • The US share market however continues to climb and has risen around 50 points (around 2%).
  • Australian GDP forecasts for 2017 were revised down to 2% – 3%, from 2.5% – 3.5%. Inflation was revised up to 1.75% – 2.75% from 1.5% – 2.5%. These were driven by poor GDP results in Q1, combined with a stronger Australian $.
  • Business confidence has risen, where consumer confidence  fell over 1%.
  • Unemployment remained steady at 5.6%.
  • US GDP rose in Q2 taking the annual adjusted figure to 3%, however Hurricane Harvey in Texas will have a $120 billion price tag for the recovery effort.

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