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02.09.2015 - Australia's economy grew by 0.2%

Today was published statistics on the growth of Australia's GDP in the second quarter. Thus, the index rose by only 0.2%. Analysts had forecasted an increase by 0.4%. Recall that in the first quarter grew by 0.9%. During the year the economy expanded by 2.0%, which is 0.2% less than expected. The main negative factor was the fall in exports, which reduced GDP by 0.6%. At the same time, support for the index was the increase in household consumption, which added 0.5% to GDP growth. It should be noted that the expectation of monetary easing, low prices for iron ore and other commodities, as well as the economic slowdown led to a decrease in the price of the Australian dollar. We maintain a medium-term negative outlook, but do not exclude the price rebound from an important level of 0.70.

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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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