Australia’s economic growth sluggish

Australia’s economic growth sluggish

Australia’s economic growth for 2016 is expected to fall short of the decade average, according to CommSec.


The Australian economy “probably grew around 2.3 per cent” throughout 2016, according to the company, compared with the decade average of 2.7 per cent.

Additionally, wage growth in the year to September was only 1.9 per cent, which Commsec said was an 18-year low.

“The annual inflation rate stands at 1.3 per cent, but once volatile factors are removed, underlying inflation is around 1.6 per cent,” the company added.

The Australian share market however saw noticeable gains through the year, with both the ASX 200 and the All Ordinaries rising 7 per cent each, and total returns on Australian shares (price plus dividends) growing 11.6 per cent.

This followed growth of 3.8 per cent in 2015, CommSec said.

The Capital Goods sector performed the best throughout the year, up 39.4 per cent according to CommSec, with Telecom experiencing the worst performance by sector, down 12 per cent.

Read more:

Super funds deliver strong returns through 2016

ANZ sells stake in Chinese bank

Fall in investor confidence through December

US dollar set for a strong year

 

 

 

 

Australia’s economic growth sluggish
investordaily image
ID logo
promoted stories

Appointments

investordaily image

AMP names incoming chief risk officer

Jessica Yun

investordaily image

Antares Equities hires new director

Staff Reporter

Brad Fox

Former AFA CEO appointed to boutique board

Staff Reporter

Analysis

investordaily image

Warning lights flashing on Aussie equities

Roy Maslen

investordaily image

What’s in store for the economy in 2018?

Frank Uhlenbruch

ST Wong

Busting common passive investing myths

ST Wong