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NZ economy – wave of optimism
10 December 2013
NZ economy – wave of optimism
The BusinessNZ Planning Forecast shows the New Zealand economy is starting to bloom.
New Zealand is currently experiencing the best terms of trade since 1973.
The agricultural sector, despite the drought earlier this year, is showing strong growth.
Sector surveys the BNZ-BusinessNZ Performance of Manufacturing and Performance of Services Indexes (PMI and PSI) are showing expansion in manufacturing and services.
Key forward-looking indicators such as business and consumer confidence are high.
BusinessNZ Economist John Pask says the labour market is finally showing signs of life, with a number of forward-looking indicators pointing to employment growth.
“The OECD places New Zealand as one of the fastest growing economies in the developed world. It seems our economy is finally starting to thrive, and the dividend of more jobs will be welcome.”
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 sits at 14 for the December quarter, up 9 on the previous quarter and up 7 on a year ago.
The BusinessNZ Planning Forecast for the December 2013 quarter is onwww.businessnz.org.nz
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