Monthly Economic Indicators October 2015

The October Monthly Economic Indicators (MEI) was published today on the Treasury Website at 2:00pm. The report provides a summary of recent economic events.

The main points:

• Expectations of steady business activity and higher dairy prices point to the near-term growth outlook stabilising, but still weaker than in the Budget Update.

• Inflation remains low despite some support from higher tradables inflation as a result of the fall in the New Zealand dollar.

• Strong population growth continues to boost housing demand, with some spillover beyond Auckland.

• A weaker outlook for global growth, particularly for emerging economies, continues to present a risk to the New Zealand economy.

This month’s special topic examines the international experience with fiscal targets and draws implications for fiscal rules in New Zealand.

Read more at: http://www.treasury.govt.nz/economy/mei/Oct15

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