Economy
Explore the latest economy news by BusinessDesk
Services
Local travellers boost guest nights in April on Easter, Anzac holidays
By Paul McBeth June 17 (BusinessDesk) - Domestic travellers underpinned a 5.1 percent increase in accommodation guest nights in April, due to the Easter and Anzac Day holidays coinciding with school break. However, a drop in Chinese visitors saw international guest nights...
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Services
NZ services sector activity picks up in May but still tepid
By Rebecca Howard June 17 (BusinessDesk) - Activity in New Zealand's services sector lifted in May following a three-month lull but remains below the long-term average. The BNZ-BusinessNZ performance of services index increased 1.6 points in May from April to a seasonally...
Markets
Record-low rates point to terrible growth even as stock prices soar
By Jenny Ruth June 17 (BusinessDesk) - At first glance, record-low wholesale interest rate markets and soaring stocks appear to be occupying different universes. In New Zealand, the five-year swap rate closed below 1.5 percent for the first time, ending last week at 1.48 pe...
Retail
NZ food prices rise an annual 1.7% in May, rental inflation steady
By Rebecca Howard June 14 (BusinessDesk) - New Zealand food prices rose an annual 1.7 percent in May, boosted by more expensive groceries and restaurant and ready-to-eat food. The annual rise in food prices followed a 1 percent annual rise in April. Restaurant meals and re...
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Pattrick Smellie
Founding Editor
Pattrick was judged New Zealand's best overall columnist and business columnist of the year at the Voyager 2021 Media Awards. He has more than 35 years’ experience reporting and working in New Zealand politics and the commercial sector. A former Press Gallery chairman, he is an award-winning journalist and has worked for titles including The Dominion, The Press, Sunday Star-Times and National Business Review. He was the first NZ correspondent for The Australian and co-founded BusinessDesk in 2008.
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