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1.Market Observations, 8.Was Sticky

8 Sept 2016 (AFR) – Budget to benefit from income rise – Income recession may be over: national accounts

(8 September 2016, AFR, p1, by Laura Tingle)

‘A five-year slide in the terms of trade and national income, which has dragged down economic growth and hit budget revenues, has come to an end, according to the latest national accounts. The Bureau of Statistics reported on Wednesday that the economy grew by 0.5 per cent in the June quarter – slightly lower than more bullish market predictions and half the revised March quarter growth figure of 1 per cent. But momentum in the economy this year was still strong enough to result in the strongest annual growth figure in four years of 3.3 per cent, up from 3.1 per cent in the March quarter.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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