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

 

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

f work for Pumpkin Patch staff

Retail: Pumpkin Patch Brand, IP Sold To Catch Group

The receivers of failed children's clothing retailer Pumpkin Patch have confirmed that the company's brand and intellectual property have been sold to Australian online retailer Catch Group. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news