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Founder of Learn to Trade, Greg Secker’s investment journey began with him working in IT on a trading floor supporting the largest currency trader in London. With no real knowledge of finance and a $5000 gift from his mother, Greg entered the trading game and joins the Nestegg podcast to discuss his journey to success.

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Having previously joined the show to share how he is making a full-time income in only a few hours a week, Greg Morgan also joins host David Stratford to share how Learn to Trade set him on the path toward financial success, and why mindset and positivity is key to success as a trader.

The pair will explain why the current climate is the perfect time to be trading, explain the 5-2-1 rule and why it is so important, and reveal what the best investors are doing to cement their success.

You can keep up to date with what Learn to Trade are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Wednesday, 20 November 2019

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Economy growth at ’91 recession levels

By Cameron Micallef · September 04 2019

Reading:

Invest

Economy growth at ’91 recession levels

By Cameron Micallef
September 04 2019

Reading:

Economy growth at ’91 recession levels

By Cameron Micallef · September 04 2019

Reading:

The Australian economy has had its worst year of growth since the 1991 recession, national figures have shown.

The latest figures from the Australian Bureau of Statistics (ABS) suggested that Australia’s growth rate is now worse than it was during the global financial crisis, where the economy grew by just 1.7 per cent over a 12-month period.

Current data showed that Australia has experienced growth over the last year of just 1.4 per cent.

Chief economist at the ABS, Bruce Hockman, cited strong mining performance as the main driver of growth for Australia in the quarter.

Mining, both gross and value-added, increased 3.4 per cent, with strong production of coal and liquefied natural gas leading profits to rise by 10.6 per cent.

This was driven by strong export growth and a continued rise in the terms of trade, according to the ABS.

Mining investment also rose by 2.4 per cent, with increases in investment in machinery and equipment.

“Net exports contributed 0.6 percentage points to growth this quarter, reflecting strong exports of mining commodities,” Mr Hockman also noted.

He added that “strength in mining-related activity was seen across a number of measures in the economy”.

On the domestic front, government spending was the main contributor to growth through delivery of services in disability, health and aged care.

Growth in the household sector remained subdued, with a 0.4 per cent growth in household expenditure.

In contrast, dwelling investment declined by 4.4 per cent for the quarter.

Compensation of employees grew 1.3 per cent for the quarter, due to rises in the number of wage and salary earners and wage rate.

The ABS noted that this growth was driven primarily by the healthcare and social assistance industry.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leveraging their insights to grow your portfolio.