Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Tuesday, 8 March 2016

Confidence muchly improved

Confidence and business conditions up

Consumer confidence lifted by +3.1 per cent to a reading of 114.8, well ahead of the long run average since 1990 of 112.7, after declining on the previous reading.

Confidence for the year ahead also surged by +11.6 per cent, and the index looking 5 years ahead jumped by +8.6 per cent. 

These upbeat results follow a surprisingly strong result for economic growth in 2015 of +3 per cent.

NAB's Business Survey was also very positive, pointing to profits & capex rising, and reduced spare capacity.

Business conditions (+5 to +8), trading (+10 to +12) and profitability (+6 to +11) all recorded nice gains.

Source: NAB