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Spring is in the air

Spring is in the air

There is a distinct spring in the step of the New Zealand economy, with nearly all indicators pointing to continued expansion, according to the BusinessNZ Planning Forecast.

BusinessNZ Chief Executive Kirk Hope says indicators are pointing towards a respectable growth rate of about 3.5 percent for 2016/7.

"Manufacturing and services data are strong, construction and tourism are booming, and confidence is returning to the agricultural sector, particularly dairy.

"Indicators of business and consumer confidence are generally positive across the board, and feedback from BusinessNZ’s Affiliated Industries Group shows the optimism shared widely across most sectors.

"However household and farm debt are growing strongly, bringing the risk of exposure when interest rates inevitably rise."

The BusinessNZ Planning Forecast incorporates BusinessNZ’s Economic Conditions Index (ECI) which tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt and business and consumer confidence.

The BusinessNZ Planning Forecast for the September 2016 quarter sits at 19, down 1 on the previous quarter and up 12 on a year ago.

The BusinessNZ Planning Forecast for the June 2016 quarter is on www.businessnz.org.nz.

ENDS


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