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

 


NZ economy buoyed by commodity exports, dented by earthquake

NZ economy buoyed by commodity exports, dented by earthquake

Forward indicators were pointing to an upturn for the New Zealand economy until the Christchurch earthquake, according to the BusinessNZ Planning Forecast <http://www.businessnz.org.nz/file/2036/110302%20Mar%2011%20Forecast.pdf > for the March quarter 2011.

The BusinessNZ Planning Forecast incorporates BusinessNZ's Economic Conditions Index (ECI) which tracks 33 indicators, including GDP, export volumes, commodity prices and inflation, debt and confidence figures.

The ECI for the March quarter - prior to the Christchurch earthquake - had improved 6 points from the previous quarter.

However, growth for 2011 will be severely dented through production foregone in the wake of the earthquake.

On the positive side, commodities exports are going from strength to strength, taking New Zealand's terms of trade to a 35-year high.

Continuing robust growth in New Zealand's major trading partners Australia and China is a positive indicator for 2012.

The BusinessNZ Planning Forecast for the December quarter 2010 is here <http://www.businessnz.org.nz/file/2036/110302%20Mar%2011%20Forecast.pdf > on www.businessnz.org.nz


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news