Welcome to the March edition of the Market Update.
Global equity markets continued to correct through February but staged an early March recovery and Oil prices staged a strong recovery from mid-February – up 37%.
US economic data continued to improve, whilst in China economic data continued to consolidate and target minimum growth of 6.5%.
In the Eurozone the February manufacturing Purchasing Managers Index (PMI) was a little weaker than January’s data, and the Markit manufacturing PMI index was down at 51.2 in February, from 52.3 in January.
Back home the Australian non mining sector continued a solid recovery, and the RBA maintained the cash rate at 2.0% at its early March meeting.