Thanks @shovel40, @FlashPoint, @Fiji1 and morning crew.
The share market struggled to retain its gains after anemic growth figures underlined the impact of rising rates on the economy.
The ASX 200 trimmed a 35-point opening rally to six points or 0.09% by the halfway mark. Healthcare providers and consumer and tech stocks led the sector gains. Energy stocks, REITs and banks dragged.
Data this morning showed the economy grew last quarter at the slowest pace since the pandemic. Gross domestic product increased a slender 0.2% for the third quarter, down from 0.6% growth at the end of last year. Economists had predicted growth of 0.3%.
Katherine Keenan, ABS head of National Accounts, said “This is the sixth straight rise in quarterly GDP but the slowest growth since the COVID-19 Delta lockdowns in September quarter 2021."Personal trading: Slow morning so far. Part-fill in MEG for a couple of pips, but not enough shares for it to matter. Put on my clown shoes and bought RNX at the price I intended to sell. Doh. Exited for brokerage. More recently took BLZ on retrace.
