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May Monthly Economic Indicatiors
Treasury release: May Monthly Economic Indicatiors (MEI)
The May Monthly Economic Indicators (MEI) was published on the Treasury Website today at 2.30 pm. The report provides a summary of recent economic events :
1. Softening domestic demand and labour market
indicate GDP contraction in March
2. However,
labour market weakness likely overstated and positives such
as tax cuts and high dairy payout to support economy in
second half of 2008
3. Inflation will be higher
than forecast with inflation pressures remaining intense
4. Worst of financial market turmoil possibly over
but real economy effects still relevant
Read more at: http://www.treasury.govt.nz/economy/mei/may08
ENDS
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