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1.Market Observations, 8.Was Sticky

3 Sept 2019 (TheAge) – ASX pauses as inventory figures put growth at risk

(3 September 2019, The Age, Business, p27, By Lucy Battersby and David Scutt)

S&P/ASX 200 (XJO) index (Brainy)

S&P/ASX 200 (XJO) index (Brainy)

‘An obscure set of data on business inventory levels knocked 100 points off the S&P/ASX 200 Index on Monday sending it from 6600 points down to 6560, but it recovered to close just 0.5 per cent lower than Friday’s close at 6573. Shortly after midday the Australian Bureau of Statistics (ABS) released the lastest business indicators which showed a surprise 0.9 per cent fall in inventories, seasonally adjusted. The figure sent economists scrambling to adjust their economic growth forecasts ahead of the release of the June quarter gross domestic product (GDP) figures coming out on Wednesday.’

Read more at TheAge.com.au

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