Bishop's moves questioned as construction sector deals with recession

Bishop's moves questioned as construction sector deals with recession
Chris Bishop gave a speech on housing to a property council on Thursday and will give another on RMA reform on Friday. (Image: Supplied)
Dileepa Fonseka
On Thursday morning, housing minister Chris Bishop walked straight into a recession.  As he was making his way onstage for the Property Council residential development summit in Auckland, conference presenter Carly Flynn announced the country was officially in a recession. This came as Stats New Zealand released data stating that the gross domestic product contracted 0.1% in the December quarter, just a few minutes before Bishop walked onstage.  ConcernsBut even before the pronouncement was made, economist Shamubeel Eaqub was voi...

More Economy

SOE director renumeration to reach market parity
Economy

SOE director renumeration to reach market parity

State Owned Enterprises directors stand to gain from plans to up fees.

Staff reporters 07 Nov 2024
BNZ posts near flat profit
Finance

BNZ posts near flat profit

Bank's net profit eased 0.2% to $1.5 billion.

Economists still expect 50bps rate cut after jobs data
Economy

Economists still expect 50bps rate cut after jobs data

The data did take a 75bps cut off the table. 

Rebecca Howard 06 Nov 2024
New jobs data in: Unemployment rises to 4.8%
Economy

New jobs data in: Unemployment rises to 4.8%

Unemployment rose to 4.8% in the September quarter – worse than in June but better than many pundits had expected.The seasonally adjusted unemployment rate, as measured by the Household Labour Force Survey, was 4.8% in the quarter, compared with 4.6% in the previous quarter.”The...

Staff reporters 06 Nov 2024