ABC Statewide Drive – Money matters
In my recent conversation with James Findlay on Statewide Drive, I discussed several key trends in the current economic landscape. Since June, major lenders and banks have only reported a modest increase in mortgage defaults and house repossessions, while vehicle defaults remain under 1 per cent. However, ASIC data shows that Australia is on track to record the highest number of business collapses in a decade, particularly in the building and food service industries, reflecting a pullback in discretionary spending.
Many Australians are struggling to repay debts, and domestically-focused companies like Harvey Norman (ASX:HVN) are feeling the impact of reduced consumer spending. In contrast, companies such as JB Hi-Fi (ASX:JBH), Nick Scali (ASX:NCK), and ARB Corporations (ASX:ARB), which are taking market share and expanding overseas, are performing well. Additionally, self-funded retirees are benefitting from interest rate increases on their term deposits in the bank.
You can watch my segment of the interview from the 1:45 mark here: ABC Statewide Drive – Money matters
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
