Australian economy ‘getting stronger faster than initially expected’

The Australian Bureau of Statistics suggests the economy is "getting stronger faster" than initially expected, InvestSMART's Evan Lucas says. "The PMIs [Purchasing Managers' Index] from both manufacturing and services shows a better than expected read for the month of May," Mr Lucas said. "It would probably confirm what both the prime minister and the RBA are starting to suggest which is that we're getting through this and we're starting to see signs the turn around is beginning." Mr Lucas said questions will always remain around the RBA's decision to cut rates three times and "whether it was the right thing to do". Image: News Corp Australia

from National | Daily Telegraph https://ift.tt/2WOeNCv