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Consumer sentiment soars to three year high, employment fears recede - Westpac Melbourne Institute; And Australian dollar hits three month high. But WA business confidence plunges.
Topic Started: 11 Sep 2013, 03:20 PM (4,465 Views)
MMM
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Perthite
12 Mar 2014, 03:08 PM
Someone better call the waaambulance for Pascoe et al.
Better just send the emergency ward. The sheep are finally being awoken to the truth as the government is running out of bullshit. They were told the GFC was over and that all was rosy and that we have a mining boom and that our economic fundamentals are strong and jobs prospects good. But even now even the average sheep knows this is all complete bullshit. They can now see that the GFC is not over, and that it is more likely just beginning , and that there job is now more at risk than ever before, I mean in living memory of this country, they can now see their future jobs prospects have never looked worse, again in living memory of this country. And our economic fundamentals have never ever looked as bad as they are now.
They are also starting to realize that there is no solution to this problem and there is no end in sight whatsoever.
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goldbug
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The wespac spin from back in september was just that, spin designed to try and suck more of the population into believing the future will be AOK, back to normal growth like the decades before. I can see why they do it, and agree with their motives on a certain level. But that does not mean I have to share in the lies as far as my own investments are concerned.

If you could look into the private investments of the major insiders of these institutions I have no doubt you would find big short positions on the allords and very few investment properties. They brobably own gold as well. But offshore in a trust like the rest of their holdings.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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MMM
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goldbug
12 Mar 2014, 03:59 PM
The wespac spin from back in september was just that, spin designed to try and suck more of the population into believing the future will be AOK, back to normal growth like the decades before. I can see why they do it, and agree with their motives on a certain level. But that does not mean I have to share in the lies as far as my own investments are concerned.

If you could look into the private investments of the major insiders of these institutions I have no doubt you would find big short positions on the allords and very few investment properties. They brobably own gold as well. But offshore in a trust like the rest of their holdings.
The numbers that actually believe the bullshit grow fewer by the day. On the other hand the numbers that learn the truth grow larger by the day.

Our economy is permantly screwed, soon everybody will know the truth.

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Consumer sentiment reverses towards buying property: Westpac-Melbourne Institute index

A key indicator of expectations for the housing market has revealed consumer attitudes towards buying a property improved from May to June, reversing a six-month trend of declining sentiment.

The ‘Time to buy a dwelling’ component of the Westpac-Melbourne Institute Consumer Sentiment Index rose by 11.4% from May to June, indicating more people thought it was a good time to get into the market.

The rise was the first time the index had improved since November 2013.

Westpac senior economist Matthew Hassan said the rebound was a positive sign but the improvement was tempered by a significant drop in expectations for house prices.

House price expectations fell 11.1% in June, compounding a 9.8% drop in May.

“While those expecting house prices to rise over the next 12 months still outnumbered those expecting declines, nearly a third of respondents now expect prices to be unchanged,” Hassan said.

The ‘Time to buy a dwelling’ index, with a reading of 121.2 in June, is still lower than the long-term average of 123.4. The index dipped below the long term average value in February 2014 for the first time since August 2012.

Broader sentiment stabilised after a sharp fall following the federal budget in May, with about three quarters of people surveyed recalling bad news on the budget and taxation, the highest proportion since the survey was started in the mid-1970s.

At 93.2, the general consumer sentiment index was down 8.8% compared with the same time last year, and well below the neutral 100 point level.

Across all measures of sentiment, including those concerning current and future family finances and the economy, the index was lower than a year previously.

Hassan said based on the weakness of the index, Westpac’s view was that the case for higher interest rates would not be strong enough until the middle of 2015 at the earliest.

Read more: http://www.propertyobserver.com.au/finding/residential-investment/32379-consumer-sentiment-reverses-towards-buying-property-westpac-melbourne-institute-index.html
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Westpac Consumer Sentiment Recovers - Expect Consumers To Be Running At 'Faster Pace'

Greg McKenna

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The Westpac Melbourne Institute monthly Consumer Sentiment survey has just been released showing another improvement of 3.8% on top of last months 1.9% recovery.

Westpac Chief Economist Bill Evans characterised the recovery, which has taken the index to 98.5, as a “pleasing result” and indeed it is given the survey period includes the big uptick in the unemployment rate to 6.4% that was released last week.

The good news, in light of yesterday’s big drop in the ANZ weekly confidence measure, is that the Westpac sentiment index is just 1.2% below pre-budget levels although it is still 10.8% below the post election spike.

“The rebound in confidence augurs well for a continuation of the lift in retail sales reported for June, which followed three consecutive soft months”, Evans wrote.

The sub-index looking at employment saw unemployment expectations drop from an index level of 156.1 to 151.4 for a fall of 3% and Evans said that “households do appear to be gradually feeling more secure in their employment despite the negative reception to the Budget”.

That’s great news.

Indeed while Evans notes the ongoing uncertainty, he is confident enough in the outlook to say he expects that consumers will “be running at a faster pace in the second half of 2014 than in the first half with some spill-over to non-mining business investment and employment”.

Coming on top of the NAB Business Survey yesterday this is good news for the economic outlook and while Evans thinks the RBA is on hold until the third quarter of 2015 he expects the next move to be an increase in rates.

Read more: http://www.businessinsider.com.au/westpac-consumer-sentiment-recovers-expect-consumers-to-be-running-at-faster-pace-2014-8
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