Sharply improved productivity figures suggest economic tipping point, says Bagrie

Tue, 18 Mar 2014

By Pattrick Smellie March 18 (BusinessDesk) – A sharp improvement in New Zealand’s traditionally feeble economic productivity statistics suggests the economy is at a “tipping point” for a sustained period of stronger economic growth, says the ANZ Bank’s chief economist, Cameron Bagrie. Productivity figures released by Statistics New Zealand today show productivity growth in the year to March 2013 of 2.1 percent, well above the average annual rate of 1.6 percent recorded during the 17-year period since the crucial measure of economic competit...

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