Pete Wargent blogspot

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

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Tuesday, 9 May 2017

Biz conditions strongest since 2008

Survey strengthen again

NAB's widely regarded Business Survey produced an even stronger result in April.

Business conditions rose 2 points to +14, way above the long run average of +5 and the highest level since 2008. 

Business confidence also soared +7 points to +13. 


Source: NAB

The employment index has lagged somewhat, but also rose to +8.

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Budget night!

Tonight the Federal Budget 2017-18 will be released.

The Budget papers have already been sent to the printers, so alas won't capture the ongoing crash in the price of Australia's most valuable commodity! 


The market expects to see the Budget deficit improving from about $37 billion to $28 billion or 1.5 per cent of GDP, with nominal GDP growth for the next financial year upgraded a notch confirming the good old "return to surplus" by 2020-21.

Expect to see a couple of interesting affordable housing measures announced, but the big ticket items will likely be related to spending on major infrastructure projects.