Index ASX 200 forecast decreased 2 points or 0.04% to 5744 on Wednesday September 13 from 5746 in the previous trading session. Historically, the Australia S&P/ASX 200 Stock Market Index reached an all time high of 6828.70 in November of 2007 and a record low of 1358.50 in November of 1992.
Index ASX 200 forecast | analysis Closed September 13, 2017
The Australian economy expanded 0.8 percent in the June quarter of 2017, much stronger than a 0.3 percent growth in the first quarter and matching market consensus. The solid expansion was mainly supported by strength in domestic demand and net exports.
In the three months to June, household consumption added 0.4 percentage points to growth, government spending contributed 0.2 percentage points to growth and exports added 0.6 percentage points to growth. On the other hand, non-residential construction subttracted 0.4 percentage points from growth and inventories detracted 0.6 percentage points from growth.
Final consumption expenditure rose 0.8 percent. Household spending increased by 0.7 percent, driven by rises in food (1.5 percent), insurance and other financial services (1.3 percent) and rent and other dwelling services (0.5 percent). Partially offsetting the rise was electricity, gas and other fuel (-3.7 percent) and purchases of vehicles (-1.1 percent). Meanwhile, government final consumption expenditure increased by 1.2 percent.
Gross fixed capital formation expanded by 1.5 percent. Public investment rose 11.9 percent, driven by state and local general government (25.5 percent). This included the acquisition of the recently completed Royal Adelaide Hospital from the private sector. Private investment declined by 1.1 percent, due to non-dwelling construction (-7.7 percent). Partially offsetting the fall was machinery and equipment (2.9 percent). Total gross fixed capital formation contributed 0.4 percentage points to GDP growth.
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