Yes PMI which is another easily manipulated statistic. Did you know the government changed the way CPI and inflation was calculated because it didnt agree with what they wanted?
I agree an economic slow down has been happening in Australia for a while but it is now only just starting to bight.
Household debt skyrocketing, 25% of mortgages are now under stress which means there is not enough money left in the household income to pay the mortgage. That is the banks stats too not mine.
Interesting that Toys R us should be bankrupt. I read in the local Darling Downs (Qld) paper this morning that Toys R Us is opening a new store in a huge new Bunnings hardware store opening soon in Toowoomba.
Is Australian Toys R Us different from the multi national company?
In my area I have been watching some good companies go broke over the last few years. Just recently Otswold company which is quite a large construction company went belly up owing tens of millions. I never thought this company would go belly up ever but there you go. They were considered a very sound company.
