From the contrarian indicator The Pascometer today:
The de facto tightening is a negative, but this week’s NAB business confidence survey again told a story of business conditions actually remaining fairly good with employment intensions turning positive and capacity utilisation on the up.
As for signalling the end of the Sydney/Melbourne property boom: Um, maybe. Maybe not. There’s a lot more happening in that space than the $10-a-week impact on the average mortgage. Wherever property prices are heading, it’s not Westpac’s need to push up dividends that will be the big decider.
