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BNZ Weekly Overview

Welcome to the May 3 2012 issue of the BNZ Weekly Overview.

This is the first Thursday of the month so we are running our monthly BNZ Confidence Survey. Please click on the link below and let us know whether you feel the NZ economy will be better or worse in a year’s time. And if time permits please feel free to pen a sentence describing how things are in your industry at the moment specifying what that industry is.

Over the past week we have seen some decidedly mixed developments around the planet. On the positive side manufacturing numbers turned out reasonably strong in China and the US. But on the negative side the situation here in Europe continues to get worse, and across the ditch the RBA are so worried they have just cut interest rates 0.5%.

Locally NZ data releases have been decidedly mixed. Export receipts have fallen 6% seasonally adjusted recently, export prices fell 4.5% on average in April, but business sentiment is good with above average employment and investment intentions, credit growth is picking up, residential and non-residential construction consents are showing life (especially the former), but jobs growth is only mild as seen in this morning’s Household Labour Force Survey numbers.

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