This month:

• US economic growth moderated in the September quarter but is underpinned by strong consumer spending growth.
• The IMF recently downgraded its forecast for global economic growth, partly reflecting the US-China trade war.
• In Australia, business conditions remain relatively robust while labour market conditions continue to show signs of underlying strength.
• Chinese GDP grew by 6.5% year-on-year in the September quarter, below the expected 6.6% and down from the June quarter’s growth of 6.7%.
• Incoming European data was weaker than expected but consistent with broad-based growth and growing inflation expectations.

Read the full Market Update prepared by Lonsec here.