A review of things you need to know before you go home on Thursday

A review of things you need to know before you go home on Thursday
For Thursday, August 14, 2014. Image sourced from Shutterstock.com

Here are the key things you need to know before you leave work today. Westpac picks house price fall; over 65's fastest growing group; economy still expanding; retail sales strong; bond tender covered 4.8x & more.

TODAY'S MORTGAGE RATE CHANGES
There have been no changes announced today.

TODAY'S DEPOSIT RATE CHANGES
There have been no changes announced today.
 
WESTPAC PICKS HOUSE PRICE FALL
Westpac's economists believe house house prcies will continue to rise into next year but then a reversal of net migration gains and higher interest rates will lead to a sustained period of price declines. 

'MATURE CITIZENS' SHOWING GREATEST POPULATION GROWTH
Stats NZ estimate New Zealand's population is growing at 1.5% per annum, its fastest pace since 2003. Above average growth continues to be recorded in the over 65 category where numbers were up nearly 4% on last year.

MANUFACTURING CONTINUES TO SHOW EXPANSION
The latest BusinessNZ PMI data was 0.4% lower than last month but at 53.0 is still showing economic expansion is continuing. The manufacturing sector has recorded 22 consecutive months where the reading has been above 50.0
 
KIWI'S SPEND UP
Retail spending after adjusting for seasonal effects rose 1.2% in the June quarter. For the past year retail sales have grown 3.8% according to the latest data from Stats NZ. The biggest contributor to the rise was within the motor vehicle and parts retailing industry where increases in values and volumes were the largest in the past 2 years. Eleven of the 15 industries monitored had higher sales volumes in June.

NZ GOVT BOND TENDER A ROARING SUCCESS
Today's tender of $200 mln worth of 2020 NZ government bonds paying 3% interest attracted 47 bids worth $955 mln. The weighted average accepted yield was 4.09%. Westpac's pre-tender review indicated the current 2020 bonds on issue looked cheap relative to current swap rates and it appears the market agreed.

MEMBERS OF TAXPAYER'S SIMPLIFICATION PANEL ANNOUNCED
The members are: Henri Eliot (chair), chief executive of Board Dynamics; Scott Mason, managing principal of tax advisory at Crowe Horwath; Kerry Dalton, chief executive of Citizens Advice Bureau; Brain Steele, executive director of Shoreline Partners; Darren Stuart, head of customer support at Trade Me; Courtney Johnston, director of Hutt City Museums.

WHOLESALE RATES
Swap rates were down fractionally across the curve today. Meanwhile the 90 day bank bill rate managed to eek out a gain of 1 basis point to 3.70%.

OUR CURRENCY
The NZ dollar traded higher today following the trifecta of poor economic data out overnight from China, Europe and US. Check our real-time charts here. The NZ dollar is currently at 84.65 USc, is at 91.1 AUc and the TWI is 79.53

You can now see an animation of this chart. Click on it, or click here.

 

 

 

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Shares in Warren Buffet's investment vehicle Berkshire Hathaway have reached $US 200 000 each , for the first time ...
 
... I don't know about youse guys , but that gives old Gummy a warm feeling that all is well in the world ...
 
Have a happy Friday , gang ... and go the AB's ... go you good things !!!!

Well obviously the retail price of milk ISN'T a controlling factor:
http://www.stuff.co.nz/business/farming/dairy/10381833/Moove-over-cow-mi...