Economy
Explore the latest economy news by BusinessDesk
Finance
Moody's sees pressure on NZ banks' profitability
By Jenny Ruth Aug. 20 (BusinessDesk) - Moody’s Investors Service says slow credit growth, low interest rates and rising costs will weigh on the profitability of New Zealand banks in the next 12 to 18 months. That’s despite asset quality and capital remaining strong. “We...
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Policy
NZ gaming industry outlines plan for home-grown 'Angry Birds'
By Pattrick Smellie Aug. 19 (BusinessDesk) - The government will look "very seriously" at recommendations from the New Zealand digital gaming industry for the establishment of a new NZ Games Investment Fund and associated NZ Interactive Commission, says Economic Development Mi...
Services
Service sector activity picks up in July
By Rebecca Howard Aug. 19 (BusinessDesk) - Activity in the services sector improved in July to the highest level since January and inched above the long-term average. The BNZ-BusinessNZ performance of services index rose 1.7 points from June to a seasonally adjusted 54.7 a...
NZ manufacturing activity shrinks for first time in seven years
By Paul McBeth Aug. 16 (BusinessDesk) - New Zealand manufacturing activity contracted for the first time in seven years as new orders dried up and job numbers tumbled. The Bank of New Zealand-BusinessNZ performance of manufacturing index dropped 2.9 points to 48.2 in July,...
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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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