Lonsec Market Update

Market Update – May 2022

This month:

  • Australia’s S&P/ASX 200 Index finished lower over the month masking positive performance from seven out of 11 underlying sectors. Information Technology (-10.4%), Materials (-4.3%) and Consumer Discretionary (-3.2%) were the major laggards.
  • Inflation remains a concern in the USA, with the 8.5% annual rate being the highest level since December 1981.
  • The Russian war on Ukraine continues to put pressure on energy prices and prompting the IMF to downgrade global annual growth projections to 3.6%.
  • Inflation rose to 5.1% in Australia – a 20 year high – leading to calls for the RBA to raise the base rate from 0.1% at its May meeting.

Read the full Market Update prepared by Lonsec here.

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