Driven round the bend
For something a bit different, here's a look at what's happening in Western Australia with regards to new car financing.
At the peak of the resources boom there had been a grand surge in new vehicle finance commitments.
I can well remember seeing the same dynamic up in the Northern Territory; it was literally driven by the same factors.
The number of new cars and station wagons financed remains at the lowest level since 2010, reflecting the low level of consumer confidence.
On the other hand, the annual number of used vehicles financed has now been rising for 11 months.
There are quite a number of indicators that have followed this pattern, suggesting that the worst of the downturn is now in the rear view mirror for the WA economy.
