Market Insights

April Economic Roundup

by Stephen Roberts | Apr 27, 2015 | Economic Weekly, Laminar Economist Stephen Roberts

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Global economic readings were again mixed strength through April with positive surprises in the economic data, mostly confined to Europe and Australia. The monthly data readings from the US are consistent with GDP growth having slowed further in Q1 2015 to around 1% on an annualized basis. In China, growth has slowed in Q1 to 7.0% y-o-y and further slowing seems likely on recent monthly economic readings. European growth may have accelerated above 1% y-o-y in Q1 while Australian economic growth may have stabilized – if not improved slightly – in Q1 on the basis of still firm international trade, strong housing activity and small improvement in retail sales. Central banks remain committed to maintaining accommodating policy conditions, although the US Fed is still likely to lift its funds rate from near-zero later in the year and the outlook for when the RBA will next lower its cash rate is hazier than it seemed a month ago.

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