Favourable growth outcomes were achieved in the final quarter of 2010 and the first quarter of 2011, when annualised growth rates of 4,5 per cent and 4,8 per cent respectively were recorded. However the second quarter performance had been disappointing, with both the manufacturing and mining sectors likely to have subtracted from growth.
There should be an ingrained Suitability clause in all the products sold by the financial service providers. Customers must be able to understand financial products appropriate to their needs and income streams and should be equipped with the knowledge and skills to assess measure and mitigate risks and make informed decisions about the suitability of financial products to their situation.