Share market dips after unexpected GDP growth figures

ABC NEWS (Australia)

Stronger-than-expected GDP growth figures have surprised analysts as the local share market dipped. Productivity grew 0.3 per cent in the quarter after it spent much of 2024 on the decline.

Transcript

00:00Surprisingly robust national accounts, with a gross domestic product, or GDP number, that

00:08says the value of the goods and services we create is growing far faster than the experts

00:14expected.

00:15Productivity grew 0.3% in the quarter, when it had been flat and spent a lot of 2024 going

00:22backwards.

00:23Normally, rising wages prompt employers to spend more on technology.

00:27But while wages lifted, public investment slumped and private investment was just above

00:33zero.

00:34Maybe the June announcement of the government's reform roundtable made people work a bit smarter.

00:40After their holiday, US stock indices all went backwards, and crude oil slid after US sanctions

00:47on some shipping companies linked to Iran.

00:51Our dollar flatlined with the GDP figure, so seemingly little concerned about its potential

00:57impact on interest rate cuts.

01:00The hit was on the market, down substantially, and largely due to turmoil in the bond market,

01:06where governments go to fund debt.

01:09But to keep things in perspective, since President Trump announced he'd put tariffs on the entire

01:13world in April, our market is up almost 20% in value.

01:18And to the garage.

01:19Australians bought more than 100,000 new cars in August, and for the first time, four Chinese

01:25brands in the top ten.

01:27If the roads feel skinnier, it's all the utes and SUVs.

01:31Of the top ten cars we buy, they're nine.

01:35But Tesla sales in Australia have been torched.

01:38The falls even more substantial in Europe.

01:41And that's finance.

01:42The fall even more serious.

01:44The wise Chinese get pause.

01:44Have a full Swiss businessman.

01:46depriving hourANS.

01:49If it wasn't the same chance for來了 from previous months.

01:50The band varieties also have been torched.

01:52We use it in dawning in France.

01:53We use 8 years to 50데cares.

01:55The one that's just a則 in the back passado, we use it as our biggest centimeter AR comes up

01:58as aкогоparable.

02:01So here's what it has ya.

02:02So I can do.

02:03I won't let people here live Gan enter.

02:04We'll stay here in the backéléΦ.

02:06In this case.

02:07I won't let people here live when we get back to this moment.

02:07So now, let's put the love乾elium in Egypt

02:08and the end ofnik Där.

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