Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.
"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.
"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
Tuesday, 28 January 2014
Business conditions take off to near 3 year high
Well well, business confidence at +6 in December 2013 according to the NAB survey and business conditions up to +4 (from a rather poor -3 in the previous month).
Both are well up from their previous cyclical lows perhaps suggesting an economic recovery is now underway.
Other indicators looked good too, with trading (+12) and profitability (+6) turning in good results.
Employment - and recessionists will laugh here - tends to be a lagging indicator. Ha, but, of course! Results here were still weak enough, although perhaps hearteningly better than they have been.
NAB specifically notes that sectors such as personal and recreational services and the wholesale and retail sectors have driven the rebound.
In other words, low interest rates have spurred on dwelling prices and the wealth effect is flowing through to consumers as one might have hoped/expected.
Still some challenges ahead as mining investment falls in 2014, of course, but, who knows another good month or two might have the Reserve Bank looking at its monetary policy stance.
Even the Aussie dollar looked some heart in the news and bounced back above 87.5 US cents.
Some bright news on a ripper of a day in Sydney.