KBB Morning Snapshot

January 24, 2013, 9:04 am Kochie's Business Builders Yahoo!7

Signs Of Improved Growth Ahead ~ VB Rebounds After Recipe Tweak ~ Pitch Today For An MBA

KBB Morning Snapshot
Signs Of Improved Growth Ahead

Modest inflation figures released yesterday not only pave the way for more flexibility in the Reserve Bank’s policy setting, but also point to an improving economy over the next few months.

The Westpac-Melbourne Institute Leading Index, which indicates likely economic activity three to nine months ahead, rose to 3.9% in November, up from 3.1% the previous month.

Westpac chief economist Bill Evans said he was surprised by the result, which was more optimistic than the bank's predictions for growth in 2013.

"The Index is sending a somewhat more buoyant growth signal than we currently expect to be the case," Evans said.

On the inflation front, the consumer price index, a measure of prices paid by consumers for commonly bought items, rose 0.2% for the most recent quarter and 2.2% for the year, at the lower end of the Reserve Bank's annual target band, and slightly below economists' expectations.

VB Rebounds After Recipe Tweak

A bigger, back to basics version of VB has cured the company’s recipe change hangover as sales rebounded by 15% in the last three months of 2012.

The move back to the original recipe came after angry beer drinkers abandoned the brand when they changed the flavour and reduced alcohol content. But now they’ve stormed back.

Since reverting to the original VB in October last year, 20.9 million more stubbies were consumed in three months compared with the same time the previous year, the first time in 10 years the beer had achieved sales growth.

Despite this spike, XXXX Gold remains the nations top selling beer.

Pitch Today For An MBA

The University of New England is running pitching competition for smart start up ideas, with the winner of their Pitch21 competition getting $21,000 towards an MBA.

The university’s competition will be judged in February and is for people interested in completing the MBA program at UNE.

All you need to do is submit your best 60 second business idea pitch over podcast or video, or a written pitch of 500 words. Three finalists will be selected and flown to Sydney to present their business idea in a 21 minute presentation to judges.

“In 21 years, the Graduate School of Business has uncovered some of Australia’s most astute business minds and through Pitch 21 we hope to uncover Australia’s next great business leader,” says Alison Sheridan, Head of UNE Business School.

The competition closes on Friday January 25.