In the November 2013 edition of Market Update the key take outs include:
- Last month global economic data returned mixed results, with Chinese growth showing signs of stabilising and the US continuing its drawn out recovery.
- In the US, political game playing reached a new high, which resulted in the partial ‘shutdown’ of the US Government. The shutdown is over for now and it isn’t expected to have a further damaging effect on the economy.
- On the home front, business confidence indicators are trending upwards, however economic activity indicators remained subdued.
- From a residential property outlook, housing and finance approvals in August declined for the first time since December 2012. This fall may be a result of the hype in some markets far from matching housing finance demand.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.
Of course if you’d like to discuss anything in this report please give our office a call.