NZ economy grows more than expected in September quarter

NZ economy grows more than expected in September quarter
Rebecca Howard
New Zealanders' purchasing power showed signs of improvement as the economy grew more than expected in the September quarter.Gross domestic product expanded 0.7 percent in the three months ended Sept. 30, following a revised 0.1 percent expansion in the June quarter. Stats NZ had previously reported that the economy grew 0.5 percent in the June period. Growth in the September quarter was up 2.3 percent from a year earlier.Economists polled by Bloomberg had expected 0.5 percent quarterly growth and annual expansion of 2.3 percent. The Reserve Ba...

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NZIER's Shadow Board predicts RBNZ will hold, with one exception
Economy

NZIER's Shadow Board predicts RBNZ will hold, with one exception

The New Zealand Institute of Economic Research’s Shadow Board expects the Reserve Bank of NZ to hold the official cash rate at 5.5% for another year, although one member did call for a hike this week. “While inflation pressures are still high and the labour market remains strong,...

Rebecca Howard 08 Jul 2024
RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Rebecca Howard 08 Jul 2024
Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024