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 purpose of this website is to provide general information only and the contents of this website do not purport to provide personal financial advice. Financial Horizons (Cairns) Pty Ltd strongly recommends that investors consult a financial adviser prior to making any investment decision. The contents of this website does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making any financial or other decisions. The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in any particular product, investment or security. The information provided on this website is given in good faith and is believed to be accurate at the time of compilation.