Our aim is to deliver financial advice in a way that is simple to understand without the jargon. At PlanRight Financial Services, we pride ourselves on turning complex financial information into straightforward information that is easy for you, as the client, to process and put into action. What we do for you is develop a strategic series of events to ensure you have the wealth you deem appropriate for your needs now and into the future. You will also be provided with options and recommendations to protect your wealth and ensure your financial security along your journey.
“IF YOU FAIL TO PLAN, YOU ARE PLANNING TO FAIL.” — BENJAMIN FRANKLIN
September economic update
August was a challenging month for investors. Global markets reacted negatively to an escalation in the US-China trade war and the looming no-deal Brexit. In the US, shares were down around 2% for the month while Australian shares dipped 3%.
Below we look at the some economic indicators that paint a picture of the health of the economy, including the current cash rate, movements in the Australian dollar, consumer sentiment, as well as the state of the property market.
Cash rate cuts
The RBA held the cash rate at the current record low of 1.0%, while acknowledging that Australia can expect an extended period of low interest rates, with the possibility of further cuts.
The Australian dollar finished the month lower, closing around US$0.67 cents.
Consumer confidence (how we feel generally about the overall state of the economy) dropped slightly last month - down to 114.6 - though remains positive (with 100 representing an equal balance between optimism and pessimism).
Nationally, property values rose slightly (+0.8%) over the month. This is the first monthly increase since April 2017.