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.

Friday, 13 June 2014

China IP growth accelerates to 8.8%

There are plenty of commentators who only make mention of China when there is news of their booming economy slowing. So, I'm going to do exactly the opposite and post some good news - ha. Industrial production and retail sales both increased at a faster pace in May. From Bloomie:


"China’s industrial output and retail sales increased at a faster pace in May, adding to evidence that Premier Li Keqiang’s support measures are stabilizing the world’s second-biggest economy.

Factory production rose 8.8 percent in May from a year earlier, the National Bureau of Statistics said in Beijing today, up from 8.7 percent in April. 
Retail sales increased 12.5 percent and January-May fixed-asset investment growth was little changed at 17.2 percent."
In other words, China's economy is performing almost exactly how the cadres want. Funny that. Sceptics like to look instead at power output growth as a more believable proxy for GDP growth. 
In the event, power output grew at 5.9 over the past year, somewhat slower than the 7%+ that the economy is officially expected to grow at. It wasn't all good news, however, with the property market in China slowing. Bloomie again:

"Property investment in the January-to-May period rose 14.7 percent, down from a 16.4 percent pace in the first four months."