Falling commodity prices take heat out of NZ economy, Treasury says

Tue, 19 Aug 2014

By Paul McBeth Aug. 19 (BusinessDesk) - This year's drop in global dairy and log prices has slowed the pace of the New Zealand economy earlier than expected, while lower than anticipated GST receipts are likely to trim the projected government surplus, according to the latest Treasury forecasts. In the pre-election economic and fiscal update, the Treasury now sees an earlier decline in the terms of trade than anticipated at the May budget update, though still expects the measure, which shows the proportion of imports that can be bought wi...

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