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 finest 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 May 2017
Manufacturing index pushing 15-year high
Another very strong result for AIG's Manufacturing Index (PMI) increasing by 1.7 points to a massive 59.2, miles above the 50 reading that denotes expansion or contraction.
The index trend has been tracking at levels not seen since 2002 - before the higher dollar associated with the mining boom began to hollow out the manufacturing sector.
Manufacturing employment underwent a significant bounce from 2015.
However, the most up to date figures suggest that the recovery had stalled, at least from an employment perspective.
Given the structural and global decline in manufacturing employment in developed economies, it's unrealistic to expect too many of the manufacturing jobs lost to be coming back.
A major point of concern for Australia is the huge reliance on construction employment, even over the year to February 2017.
Let's see what the May Budget comes up with in terms of infrastructure planning.