COMMSECCommunication Security
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Ryan Felsman, senior economist at CommSec in Sydney, said there was a "positive reaction" to Monday's fixing, including a pick-up in the Australian dollar, as it reassured investors that China won't steadily weaken the yuan.
Craig James, chief economist at CommSec said in a note that, in addition to the weather event, the Australian economy had to contend with uncertain geopolitics, the unwinding of the mining construction boom and variable housing markets.
Craig James, Chief Economist, CommSec, said that the result represents a softening of the strong spending growth for much of 2015.
The bank has completed a deal with Goldman Sachs (NYSE: GS) to enable CommSec and Commonwealth Private Bank customers access to the Goldman Sachs pipeline of equity offerings.
"Business investment and government expenditure are expected to hold back the growth in GDP growth," CommSec chief currency strategist Richard Grace said, signalling last weeks weak CAPEX figures, down 9.2 percent for September.
Founded in 2004 by Deniz Nalbantoglu and Darren Clark, the agency's clients include Acer, AmEx, Coca-Cola, Coles, CommSec, Fuji Xerox, Google, Mirvac, QIC Shopping Centres, and Australian gardening supplies company, Yates.
They also come on the back of some good readings out of the US," said Craig James, chief economist at CommSec in Sydney.
iPad with retina display is at its cheapest in Australia as the country ranked the 13th cheapest place for an iPad purchase in the latest iPad Index report from CommSec.
"The key is that while the rest of the world would like China to grow at 10%, policymakers are happy for growth to maintain between 7-7.5% over the coming year," said Savanth Sebastian, economist at CommSec in Sydney.
This was particularly evident in 2011; however, some reductions in production that were experienced in 2011--as commodity prices declined--are once again on the rise in 2013 (CommSec 2012).
CommSec chief economist Craig James said the data gave a mixed reading, but indicated that the labour market was not as weak as some had expected.