Pete Wargent blogspot

Co-founder & CEO of AllenWargent property advisory & buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place) - clients include hedge funds, resi funds, & private investors.

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.

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"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'.

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Wednesday, 1 January 2014

US consumer confidence rebounds

The world seeming a brighter place in the US with the unemployment rate at a 5 year low and consumer confidence heading up. Stock markets also continue to push on to new all-time highs. Everything pointing up to the best confidence levels we've seen in half a decade. From Sky News:

"US consumers turned sharply more confident about the economy and the job market in December, rebounding from a two-month downturn, The Conference Board says.

The Conference Board consumer confidence index rose to 78.1 from an upwardly revised 72.0 in November.

The October index plunged to 72.4 amid the 16-day government shutdown, from a level of 80.2 in September.

The year-end boom exceeded analysts' expectations of a 77.1 per cent reading.

'Consumer confidence rebounded in December and is now close to pre-government shutdown levels,' said Lynn Franco, director of economic indicators at The Conference Board.

The present situation index increased to 76.2 in December, the highest level since April 2008, from 73.5 in November as consumers saw more favourable economic and labour market conditions.

The expectations index increased to 79.4 from 71.1 last month. Looking ahead over the next six months, consumers were more confident in future economic and job prospects, although they were moderately more pessimistic about their earning prospects, Franco said.

'Despite the many challenges throughout 2013, consumers are in better spirits today than when the year began,' she said.

The survey came after the government reported in early December that the US unemployment rate had dropped to a five-year low of 7.0 per cent last month and job growth accelerated.

Consumers were more upbeat about the current job market, and were 'considerably more optimistic' about the outlook for the labour market, the survey showed.

'This improvement is in line with our view that the recent drop in confidence, which was driven largely by the October government shutdown, would be short-lived and that stronger labour and housing markets, as well as rising financial asset prices, would continue to push confidence higher over the medium term,' said Cooper Howes of Barclays Research."