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A Global Economic and Market Outlook

A Global Economic and Market Outlook. Presented by Chris Caton 20 March 2007. Oil Prices (West Texas) in $US/bbl. Source: Datastream. Oil Prices (West Texas) in $A/bbl. Source: Datastream. Petrol Prices relative to CPI. Source: ABS. US Housing starts and Permits. (Millions).

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A Global Economic and Market Outlook

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  1. A Global Economic and Market Outlook Presented by Chris Caton 20 March 2007

  2. Oil Prices (West Texas) in $US/bbl Source: Datastream

  3. Oil Prices (West Texas) in $A/bbl Source: Datastream

  4. Petrol Prices relative to CPI Source: ABS

  5. US Housing starts and Permits (Millions) Source: Datastream

  6. US Construction Spending Year-to growth Source: Datastream

  7. Total US Non-farm Employment 3mth / 3mth chg Source: Datastream

  8. US CAD % of GDP % Source: Datastream

  9. 2007 Growth Forecasts (%) Month of Forecast Source: Consensus Economics

  10. Real GDP growth in Australia and the US Year to % change Source: Datastream

  11. The Labour market 000’s % Employment (LHS) Unemployment Rate (RHS) Source: ABS

  12. Australian Inflation % BT Forecasts GST Effect Source: ABS

  13. Terms of Trade Index Source: ABS

  14. A long-term look at prices

  15. Housing Approvals units Building Approvals Housing finance approvals for new and newly-constructed homes Source: ABS

  16. Investor Borrowing for residential property $bn Source: ABS

  17. Ratio of Australian house prices to GDP Source: UBS

  18. Gross Domestic Product % BTForecasts GST Effect Source: ABS

  19. Financial Market Forecasts

  20. The Australian Dollar and US Trade Weighted Index Index AUD/USD US TWI inverted (LHS) AUD/USD (RHS) Source: Datastream

  21. US and Australian P/E Ratios Source: Datastream

  22. Australian Sharemarket Performance – ASX200 Source: Bloomberg

  23. Global Medium-Term Economic Growth and Inflation Prospects (2006-2016) Source: Consensus Economics

  24. Asia-Pacific Medium-Term Economic Growth and Inflation Prospects (2006-2016) Source: Consensus Economics

  25. Morgan Stanley Capital Indexes Developed Index Asian Emerging Markets Index Asian Emerging Markets Index (RHS) World Developed Index (LHS) Source: Datastream

  26. Summary • World economic growth remains good . The risk is that the US slows more than expected. • 6-10% gains in international shares likely in next 12 months. • Australian economy is still doing well. • The November rate rise may have been the last. • House prices are going nowhere fast. • The exchange rate is still a two-way risk. • Australian market likely to perform on a par with overseas.

  27. Disclaimers The information in this presentation is general only and does not take into account your particular investment objectives or financial situation. Before making an investment decision you should consult a financial adviser. The information is given in good faith and has been derived from sources believed to be accurate. However, no member of the BT Financial Group gives any warranty of reliability or accuracy nor accepts any responsibility arising in any other way including for negligence. This disclaimer is subject to any contrary provisions of any applicable legislation. An investment in any fund described in this presentation is not a deposit with or any other liability of Westpac Banking Corporation ABN 33 007 457 141. None of Westpac Banking Corporation or its related entities guarantee the capital value or investment performance of any fund. Unless stated otherwise, BT Financial Group is the source of all charts, performance information and other data. Past performance is not a reliable indicator of future performance. U

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