Latest / Best of Business / Perspective with Ryan Bridge: Can we appreciate the good economic news coming out?

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Perspective with Ryan Bridge: Can we appreciate the good economic news coming out? · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk zed B.
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  Speaker 2: I know you shouldn't count your chickens before they hatch,
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  Speaker 2: but can we just take a minute, just a little second,
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  Speaker 2: to look, appreciate and celebrate the good economic news that's
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  Speaker 2: coming out at the moment. Government books aside because that
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  Speaker 2: wasn't so great yesterday. Tomorrow's GDP read will show that
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  Speaker 2: we bounced back with a little spring in our step
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  Speaker 2: for quarter three close to one percent growth. They reckon
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  Speaker 2: what's more tomorrow That shocking read for quarter two that
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  Speaker 2: we all hated had us diving under our desks. That
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  Speaker 2: should be revised down because it wasn't actually as bad
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  Speaker 2: as the top line number that we were given to
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  Speaker 2: begin with. Today, consumer confidence is on the rebound. New
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  Speaker 2: Zealand fantastic news. This is the Westpac McDermott Miller survey.
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  Speaker 2: It's up five point six points. This is the highest
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  Speaker 2: level this year. Now it is still slightly below one hundred,
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  Speaker 2: which means we're still a little more glass half empty
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  Speaker 2: than half full. But it's going in the right direction,
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  Speaker 2: as are the sik Job adds, as are most of
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  Speaker 2: the numbers that move first when a recovery is underway. Now,
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  Speaker 2: I say all of this completely aware that we have
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  Speaker 2: been here before, and we have fired blanks. We've had
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  Speaker 2: many a false storm or a false start. But barring
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  Speaker 2: any major cockups, this recovery feels like it's real and
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  Speaker 2: starting to actually happen. The missing ingredient, of course, is
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  Speaker 2: house prices, which are either sideways or backwards for most regions.
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  Speaker 2: That's the liquor in your Irish coffee that really gets
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  Speaker 2: things moving on the economic front generally. But this recovery
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  Speaker 2: will happen without it. It won't be sowing property prices
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  Speaker 2: that give birth to this recovery. It won't start in
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  Speaker 2: an auction room with a hammer going down on a
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  Speaker 2: four million dollar two Betty in sandring him. What's going
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  Speaker 2: to drive this recovery and make it probably more of
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  Speaker 2: a gradual one is comp confidence in our agricultural exporters,
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  Speaker 2: lower mortgage interest rates, and I think, more than anything,
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  Speaker 2: a feeling that we are just sick of being in
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  Speaker 2: this position. Aren't you tired of it? The ironic truth
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  Speaker 2: of it is that in order to get us out
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  Speaker 2: of this malaise, we must spend money rather than save it,
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  Speaker 2: which is kind of your instinct. When these things happen,
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  Speaker 2: we must go out and buy stuff. So this Christmas,
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  Speaker 2: take that confidence to your nearest shopping mall, and tonight
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  Speaker 2: I can report I'm doing exactly that. Westfield I've checked
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  Speaker 2: this morning is open till ten pm. I've found a
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  Speaker 2: tent I need to buy, I'd want to buy, I'm
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  Speaker 2: going to buy, and I've been eyeing it up today.
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  Speaker 2: I'm ready to push play. I'm ready to push play
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  Speaker 2: on summer, on spending, and on an economic Christmas miracle.
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