After 28 years Australia’s record economic expansion ended due to the COVID shutdowns, below is a video to assist you to stay up to date with the latest indicators.
Our economy contracted by 0.3% in the March quarter, with an estimated 8% contraction in the June quarter, confirmation that we are officially in recession.
Yet Australia is weathering the COVID storm better than most nations, with signs of building business and consumer confidence.
In the year to June, Australian shares trimmed their losses to 10.8% after a partial rebound in the last quarter. US shares rose 4.6% over the same period.
The current cash target rate of 0.25% has been left unchanged and is expected to remain at its current level for the foreseeable future.
The information contained on this web page is for discussion purposes only, is of a factual nature and is not intended to constitute financial product advice. Any advice contained in this website or is General Advice and does not take into consideration your individual objectives, financial situation or needs. You should consider its appropriateness in light of your circumstances and consider seeking professional advice relevant to your individual needs before making a decision based on this information. We believe the content of this site to be accurate, complete and current, however there are no warranties as to the accuracy, completeness or currency of the content. It is your responsibility to verify any information before relying on it. The content of this site may include technical inaccuracies or typographical errors. Capital 8 Financial Pty Ltd, Corporate Authorised Representative (ASIC No. 1243989) of LFG Financial Services Ltd ABN 28 101 927 413, AFSL 227096. As part of our continuing commitment to client service, the maintenance of client confidentiality and as required by law, LFG Financial Services Ltd complies with the Privacy Act 1988 and conforms with the LFG’s Privacy Policy. For further details please refer to the LFG’s Privacy Policy. We reserve the right to modify the content of this site from time to time.