We are pleased to enclose the February 2014 edition of Market Update.

Global economies continued to improve, with the International Monetary Fund revising its 2014 global growth forecast up to 3.7%.

Over in Europe there are signals the economic recovery is gaining momentum, with industrial production up 1.8% in November and car sales increasing for the third month in a row. However, the risk of deflation remains at the forefront of the Eurozone with CPI increasing only 0.8% in December.

In domestic news, economic growth remains weak with below trend growth rates. While the December unemployment rate did remained unchanged at 5.8%, we saw employment rates fall in every state except Western Australia. On an encouraging note, the housing market is looking positive with housing finance approvals rising by approximately 2% per month.

If you would like to discuss anything in this report please don’t hesitate to contact Alison Foenander of our office.

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