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It was a relatively uneventful month for economic data, investor attention turned to the timing of US interest rate rises while economic indicators over the past month have continued to point to a world that is growing – albeit at a moderating pace.
In September equity and bond markets were dominated by investor concerns around the timing of the next US interest rate hike.
In the United States the economy continued to perform reasonably well, whilst in Europe
Germany saw a very large rise in IFO business climate index as concerns over the UK’s Brexit decision receded.
The China economy continued to be supported by strong new home price growth and robust housing construction in the major cities.
Japanese economic data continued to show the economy is struggling to generate growth. June quarter GDP growth was revised up to 0.7% annualised from 0.2% previously.
Back home in Australia, the economy continued to perform reasonably well, helped by the housing and services sectors – although employment fell by 3,900 jobs in August, which was weaker than expected.