February 11, 2014
February Market Update
Global economies continued to improve, with the International Monetary Fund revising its 2014 global growth forecast up to 3.7%.
Over in Europe there are signals the economic recovery is gaining momentum, with industrial production up 1.8% in November and car sales increasing for the third month in a row. However, the risk of deflation remains at the forefront of the Eurozone with CPI increasing only 0.8% in December.
In domestic news, economic growth remains weak with below trend growth rates. While the December unemployment rate did remained unchanged at 5.8%, we saw employment rates fall in every state except Western Australia. On an encouraging note, the housing market is looking positive with housing finance approvals rising by approximately 2% per month.
If you would like to discuss anything in this report please don’t hesitate to contact Alison Foenander of our office.
Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs. Apogee Financial Planning Limited ABN 28 056 426 932, registered office 105 – 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies. From time to time Apogee Financial Planning, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non pecuniary benefits from the financial products and services mentioned herein.