In October, global shares performed poorly and the US S&P 500 and Australian shares both declined. The Utilities sector was the only positive performer, while IT was the worst-performing sector. Concerns about sustained US inflation contributed to the global downturn.
Global shares had a tough September and the US S&P 500 price index was down. However, the Energy sector managed to return 1.3% while all other sectors faced negative returns. The Australian dollar lost 0.3% against the USD$ which benefitted from resilient domestic growth. Despite this, labour markets are still robust.
In July, Australian shares showed positive growth. The Energy and Financials sectors led the gains, however the Healthcare sector faced a decline while the Aussie dollar appreciated against the US dollar. Inflation dropped driven by slower goods inflation, while services inflation reached its highest point since 2001.