It’s December – the month that always seem to race by as we approach the end of the year and all the festivities it brings.
On the economic news front, there was some good news. Consumer prices eased by more than expected in October. The news that inflation may have been tamed means interest rate rises may be behind us, for now. Lets hope the Reserve Bank gives us an early Christmas present this month by leaving rates on hold. The positive data also led to a jump in the Australian dollar, taking it to a new four-month high.
Retail spending slowed in October after a short-lived boost in August and September. But, in a further sign of good times ahead, business investment in the September quarter increased by 0.6% to almost $40 billion.
In mixed outcomes for sharemarket investors, there were some devastating lows this year, and a flat performance as November ended, but the ASX200 is up 4 points since the beginning of the year. The unemployment rate has increased slightly to 3.7% with an extra 27,900 people out of work in October.
Oil prices have steadied a bit lately with cuts to production on the table to reduce stocks, although its hard not to notice the wide range of prices being by different service stations so keep your eyes open and top up your tanks when you spot a good price.
Our office will be closing for the holiday season on Friday 15 December, and will reopen on Monday 29 January. We hope you all have a lovely, happy, and safe festive season.
