Stronger property, retail sales a good sign for future

Chamber Talk with QT Better Business columnist Brett Kitching.
Chamber Talk with QT Better Business columnist Brett Kitching.

DATA last week again showed positive movements in the wider economy as signs continually point to better times ahead.

Three different sectors show continued positive news on the overall Australian business front.

Firstly, the stock market continues to rise and is hovering at about 5400 points - the highest point for five to six years.

The stock market is a strong sign of the strength of an economy and the growth of the Australian market in the past year or two of 25% is a good indication of strong business confidence currently.

A particular indicator of strong consumer confidence on the stock market is Woolworths, which paid an increased dividend last month.

The results which led to that increased dividend show an increase in food and liquor sales of almost 5% over the past year - and confidence along with all retailers that the run in to Christmas will bring a further surge in sales.

The Big W division also showed a sales increase, which is important as non-food retailers have had to reinvent themselves in the face of threats from online retailers.

Apart from the stock market, a surge in property sales, both in value and numbers, over the past few months further shows the increase in consumer confidence across Australia.

Overall, the signs continue to be positive for the future.

It's a trend which commenced several months ago and is looking like continuing for some time yet.

Topics:  better business brett kitching chamber talk with brett kitching opinion

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