ASX reporting season wraps ahead of GDP growth figures

ABC NEWS (Australia)

Australia will soon be getting a look at the temperature of the national economy with GDP growth figures set to release, while ASX reporting season has wrapped. Meanwhile in the US, tariff turmoil is pushing investors away.

Transcript

00:00GDP or Gross Domestic Product measures how the economy is growing and tomorrow we find

00:08out by how much.

00:10This graph shows the annual rate because the quarterly figures would be too hard to see.

00:15The quarter to March our economy grew just 0.2%.

00:19Most estimates for the June quarter are between 0.4% and 0.5%.

00:24What it will tell us is how we're navigating interest rates, inflation, a tight labour

00:29market and a push to make us all more productive.

00:34The US stock market was closed for a holiday and global markets were mixed.

00:39The price of iron ore now getting comfortable above US$102 a tonne, boosting our miners and

00:46the Treasury.

00:48Our dollar slipped against the US greenback.

00:50The biggest story is how the US has been devalued as the tariff turmoil has pushed investors

00:55away from it.

00:57Locally, we're at the end of reporting season when companies listed on the stock exchange

01:02reveal their revenue, profit and what they think the future looks like.

01:06You might be wondering how companies can announce a multi-billion dollar profit and see their

01:11share price hammered.

01:12It's all about expectations.

01:15If the figures meet or beat what analysts have predicted, they get a tick.

01:19And if they miss, they get a kick.

01:21And things have been a lot more stable.

01:25And that's finance.

Category

Transcript

Be the first to comment

Recommended