Australian Economic Perspective

Weekly publication covering market influencing domestic economic issues.

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2 December 2008 - AEST 8.30am - The US economy is officially in recession - European sharemarkets fell on Monday as traders took profits on the solid gains recorded for shares and commodities last week - With an hour of trade to go the Dow Jones was lower by 395pts or 4.5pct while the S&P was lower by 5.3pct and the Nasdaq was lower by 85pts or 5.6pct - USD made modest gains against Euro and commodity currencies but slumped against the Japanese yen - Crude oil prices fell sharply on Monday - Base metal priceswere generally lower - And the price of gold fell after traders booked profits on last weeks solid gains.

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