Here is the Economic highlights on Wednesday 4th September:
Australia – GDP growth has caught analysts by surprise with a increase from 0.6% previous quarter to 2.6% last quarter, which was higher than expected.
India – Following an awful quarter for the country their currency has made gains of over 20% in recent weeks as the Government take measures to stem the outflow of money from the region. Raghuram Rajan a former IMF chief economist steps in a head of the Reserve Bank of India with a huge task on his hands as figures show the economy is growing at its slowest rate since 2009.
UK – The OECD have raised their forecast for the UK growth to 1.5% from 0.8% and seen alongside the CIPS (Chartered Institute of Purchasing and Supply) figures that have their highest results in 6 years, results in encouraging noises. The OECD stated that if this good news continued to emerge from the UK it indicated that the Bank of England may have to raise rates as soon as the 3rd Quarter 2016 to control the growth.
