Things are going bad Dhukka.Private Sector Credit growth continued to slow in July rising 0.5% but still showing a healthy 11.2% year over year growth rate.
Things are going bad Dhukka.
When's the time to buy?
Is it at the top, on the way down, or at the bottom?
Let us know the right time to get back in....
Would be of great benefit to us ASF'ers with some cash laying about.
Looking forward to some helpful advise....
Ahh poor old kennas, I can see you coming a mile away. But wait a minute, I think I have some useful advice for ya I read somewhere on here....oh yeah, the stockmarket always goes up over the long term, at some point, it will be time to buy!
Key Findings
■ The national construction industry continued to decline in August
2008, although the rate of contraction moderated for a third
consecutive month.
■ The seasonally adjusted Australian Industry Group/ Housing Industry
Association Performance of Construction Index (Australian PCI ®)
registered 43.1 in August, to remain below the critical 50.0 points level
separating expansion from contraction for a sixth straight month.
■ The decline reflected the impact of weaker house building activity,
a further fall in the apartment sector (albeit at a slower rate) and
a reduction in work on engineering construction projects. This
outweighed an improvement in commercial activity, which expanded
for the first time in the past six months.
■ Construction firms overwhelmingly linked the continued reduction
in total construction activity to subdued market demand and
subsequent declines of new order volumes. There were also reports
that economic uncertainty and tight credit conditions had led to
further delays in project commencements.
■ On an aggregate industry basis, both activity and new orders posted
on-going declines during August, resulting in firms reducing their
workforces, although at a less marked rate than in the previous month.
Due to the smaller sample size and new sampling methodology introduced from July 2008, there will be increased volatility in all series. The original and seasonally adjusted series will be most affected, as a result, the original and seasonally adjusted series are considered of limited use for measuring month to month movements. The ABS recommends using the trend series for this analysis
This though, is really good news right Dhukka, the sooner we stop spending credit and saving the quicker we'll get this downturn over with and can out of recession? At least credit is not expanding.....
This all seems to be pointing to a great buy opportunity shortly.
Or, how long does this slide go?
Is it a slippery dip to oblivian?
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