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.
Monday, 1 February 2016
US growth slows sharply
US growth slows sharply
If you are waiting for further interest rate hikes in the US to bring down the Aussie dollar towards 60 cents, it seems that you might be waiting a little while.
The "advance estimate" released by the US Bureau of Economic Analysis on Friday showed that the US economy slowed to a crawl in the fourth quarter to an annualised pace of just 0.7 per cent.
In the third quarter real GDP grew by only 2.0 per cent.
Soft consumer and business spending were the key inputs, with confidence down reflecting turmoil on global markets.
Charting the real GDP data in dollar terms shows how the recovery, which has now been tracking for six-and-a-half-years, appeared to lose some of its momentum towards the end of 2015, although the economy has continued to record solid employment growth.
Despite the slowdown last year real GDP grew by an estimated 2.4 per cent, around the same level of growth since in the preceding year.
A number of commentators believe that the fourth quarter slowdown may have been a blip, and then robust growth will return next quarter.