Market Update September 2013
Global economic data last month pointed to an upturn in growth for most advanced economies.
The US economy showed signs of recovery with an increase in GDP seen in the June quarter. While the growth was only modest, it was still above expectations. Employment was also a key stand-out, as the US unemployment rate declined further.
On the home front, the September election saw the changing of the guard, with Tony Abbott now Prime Minister elect.
The Reserve Bank of Australia left the cash rate unchanged at its September meeting, while the lower interest rates continue to boost the property sector.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.