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One of the most surprising outcomes from the better-than-expected August reporting season was the strong performance of consumer discretionary retailers, as Australians continued to weather higher interest rates and inflation better than many analysts had feared.
The Australian share market is tipped to fall by up to 9 per cent in 2022 but to rise 5 per cent to 8 per cent over 2023, according to new forecasts from CommSec. While share prices have fallen this year, Australian companies remain well cashed up and profits sit at record highs, which will help to drive gains next year