GDP expansion worst since 2008 due to ‘anemic’ consumer confidence

Chief Market Strategist at InvestSMART Evan Lucas says GDP expansion is the lowest it has been since 2008 at 0.1 per cent which is “anemic” and shows “the confidence of the average consumer is incredibly low”. Mr Lucas told Sky News Australia the reason economic growth fell short of expectations in the three months to September was because people were “saving” their government tax relief. The market strategist said Australia did however see “the biggest jump up in savings since the first quarter of 2017, with the ratio jumping to 4.8 per cent”. Image: Getty

from National | Daily Telegraph https://ift.tt/33Jrhf2