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

 

Today's GDP figures historical already

Media statement Friday, September 26th, 2008

Today's GDP figures historical already

A lot has happened in global and domestic markets since the decline in GDP recorded to June 2008 released today, the Employers & Manufacturers Association (Northern) says.

"Costs are continuing up since then, demand is down, so margins are tightening, leading to increased workplace restructuring and staff layoffs," said Alasdair Thompson, EMA's chief executive.

"About 25 per cent of EMA's employment advice work is now about restructuring, downsizing, and redundancy, and the proportion is rising.

"The compliance and direct cost impact of the government's re-regulation of the economy over the past few years is coming home to roost.

"The cost of components, raw material commodities, fuel, freight and additional labour costs are offsetting slowly improving returns from exports as the NZ dollar sinks.

"Improved growth prospects and higher income can only be restored by a substantial rise in investment by business, and that outcome will depend on a sound business environment and access to credit on favourable terms."

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: