Economic Update October 2019

Your financial well-being and plans for the future can be impacted by various economic events, so here is a video to assist you to stay up to date with the latest indicators.

September was a month of continuing uncertainty for global markets. The ongoing US-China trade dispute, the looming Brexit deadline and a drone strike on a Saudi Arabian oil processing plant all weighed on financial markets. Despite the uncertainty, US shares were up around 3% for the month, with Australian shares also recording gains of close to 2%.

The RBA cut interest rates to a new record low of 0.75%. The decision was undertaken to support employment and income growth and to provide greater confidence that inflation will be consistent with the medium-term target.

We also look at the other economic indicators that paint a picture of the health of the economy, including consumer sentiment, movements in the Australian dollar, unemployment and wages as well as the state of the property market across all of the capital cities.

Contact Acorn Financial Services below: