Orange light helps NZ economy dodge recession

Orange light helps NZ economy dodge recession
Stats NZ senior manager Ruvani Ratnayake said fewer restrictions under the orange traffic light supported growth in covid-affected industries.
Dan Brunskill
New Zealand’s economy expanded 1.7% in the June quarter, bouncing back from a negative quarter faster than many economists had predicted.Statistics NZ's gross domestic product (GDP) quarter result was better than expected, with economists' forecasts ranging between 0% to 1.8%, according to BNZ Research.The Reserve Bank of New Zealand (RBNZ) forecast the economy would expand by 1.8% while Kiwibank and ASB picked growth of 1.1% and 1.2%, respectively. The economy contracted 0.2% in the March quarter but June's expansion mea...

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Manufacturing activity has contracted for 22 consecutive months
Economy

Manufacturing activity has contracted for 22 consecutive months

New Zealand’s manufacturing sector contracted in December, marking the first time in the survey’s history that all 12 months were in contraction. The seasonally adjusted Performance of Manufacturing Index (PMI) for December was 45.9, up from 45.2 in November but still well below...

Bank economists expect OCR rises in 2026
Economy

Bank economists expect OCR rises in 2026

‘A number closer to four takes the cash rate to neutral,’ says BNZ's Stephen Toplis. 

Westpac records soft December retail spending
Economy

Westpac records soft December retail spending

Despite a slight lift, Westpac data points to a soft end of year for household spending.Westpac’s retail tracker, released on Thursday, showed spending on Westpac-issued credit and debit cards was up 2% in December compared to last year.  Westpac senior economist Satish Ranchhod...

Staff reporters 16 Jan 2025
Price shakeup for cigarette brand
Retail

Price shakeup for cigarette brand

Cigarette prices typically go up each year. Not in this case.

Oliver Lewis 16 Jan 2025