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1.Market Observations, 8.Was Sticky

7 June 2018 (AFR) – ‘Sign of a stronger economy’: Why ScoMo loves more utes on Aussie streets

(7 June 2018, AFR, p2, by Jennifer Hewett)

‘As he celebrated better than expected economic growth figures, an ebullient Scott Morrison was keen to single out the significance of utes. “Every time an Australian sees a ute driving around a suburb of one of our metro areas or regional towns with a phone number on the side, that’s the sign of a stronger economy,” he says. “We are seeing this played out with all of our trades, we’re seeing it played out across the economy, and the fact that people are building up their inventories to sell more utes, that businesses are out there buying more utes, they can do that because they’re working on sites or they’re working in sectors that are providing their businesses with the future as a result of the investment we’re seeing take place in the economy. They are good signs.” ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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