Yesterday's business confidence results from NAB have been a talking point amongst domestic equity strategists and fund managers. The result inked the highest levels of business confidence in three years, however, the figure has been somewhat overshadowed by grey clouds in the US. Charlie Aitken, Managing Director at Bell Potter notes Every conversation I have had with private Australian business people since the Federal election has confirmed an uptick in activity. The consumer and business confidence readings lift is translating to both consumer and business spending. That won't show up in the ABS data for a few months.... Livewire spoke with Mark Tobin, Equity Analyst at Wilson Asset Management who echoed similar views and points out his belief that improved business confidence is the precursor to an uplift in consumer confidence. &feature=youtu.be
I have 13 years experience in equity markets and financial media. In 2013 I Co Founded, Livewire Markets with Tom McKay. Our vision is to be the #1 source of investment ideas in Australia. Opinions expressed are my own.