Australian Economy – Mainly weak data has pointed to softer conditions continuing throughout the economy. The main worry is jobs, with falling vacancies causing a lowering of business and consumer confidence.
Global Economy – Signs of life out of Europe and a "steady-as-she-goes" US economy has been the main show over the past month. Data out of China is causing some headaches with fears of a larger economic downturn becoming more evident.
Investment Markets – The markets enjoyed a good bounce back from June with most countries moving back to lofty highs. China continues to be the exception with the Chinese domestic share market lagging the developed world significantly.
Outlook – With US, Europe and UK all picking up pace, already heated markets may be inclined to pick up yet more steam. The $A sell-off and the slight underperformance of the Australian sharemarket over the past few months has produced a noticeable buildup of relative value for domestic assets.
S&P/ASX 200 – 12 months to 31 July 2013
Source: Core Equity Services
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