Market Update July 2013
Global economic growth is expected to accelerate throughout 2013, with solid growth forecast for the large emerging economies. However the data so far is telling a different story, with the ongoing recessions in Europe and uncertainty around US and Japanese monetary policy continuing to affect results.
US economic growth showed signs of slowing down in the June quarter, however improving credit conditions and a housing sector recovery will continue to support growth.
In domestic news, the Reserve Bank of Australia kept interest rates on hold at the July meeting. The lower rates over the last few months may have helped boost business confidence, but the weaknesses in the Australian economy appear to be counterbalancing this sentiment.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.