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.
Saturday, 1 March 2014
China manufacturing PMI 50.2
It's never easy to read these gauges.
Above 50, as noted, means expansion.
So today's reading of 50.2 is a plus sign for China's economy.
However, some of the underlying figures or 'internals' showed a reading of below 50, of particular note new export orders, which recorded a reading of 48.2.
This is where we get bogged down in the old 'slowing growth' vs. 'less fast growth' debate.
The bulls, such as Michael Pascoe at SMH, will argue that China's economic growth rate slowing from 8% to 7.5% is a good thing for stability, particularly since each year the economy is significantly larger than in the preceding year.
In other words, 7.5% this year, means greater growth than 7.5% last year did.
Similarly, AMP's Chief Economist Shane Oliver normally retains a sanguine outlook on most matters China and otherwise.
He sees China's growth continuing at ~7.5% or so, which is precisely what Australia wants, since that represents an ever-growing demand for our resources.
Edit: Pascoe's view: