Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


BNZ Weekly Overview + Survey Feb. 17

BNZ Weekly Overview
The key points of this week's publication include the following.

The main interesting things we have learned over the past week include the following.

- New Zealand's labour market is so tight we have the lowest unemployment rate in the OECD at 3.6%. But with the number of hours worked up just over 4% for the year and output up just under 5% productivity growth has slowed and is low at a time when the Reserve Bank needs it rising to keep inflationary pressures under control.

- Retail spending volumes were weak over the December quarter, rising just 0.7%. But our more up to date debit and credit card data show things recovered in January - perhaps at the expense of margins. The retailing sector is going through some interesting competitive times.

- Consumer confidence has eased a tad since the last monthly survey in December but remains above average and therefore suggestive of reasonable consumer spending strength.

- The swap rates at which we banks borrow to lend fixed have risen to two and half year highs for the popular 2-3 year terms as corporate borrowers scramble to get protection against rising floating rates and the markets build in expectations of monetary policy tightening both here and across the Tasman.

*************

The Weekly Overview is freely available to all BNZ staff, customers, and the public with a centralised EMAIL ONLY distribution list managed here. If you wish to add, change or delete an email address please reply to this message or email tony.alexander@bnz.co.nz. Sections of the WO may be reproduced by anyone other than mortgage brokers provided the BNZ is noted as the source.

If you fail to receive the WO in a week please go to www.bnz.co.nz and look for it under "About Us" on Friday afternoon. Failed emails will not be resent or requests for such answered given the workload involved.

Best Regards

Tony Alexander Chief Economist Bank of New Zealand

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news