Economy

Explore the latest economy news by BusinessDesk

Weak services sector growth raises concerns about NZ economic slowdown
Rebecca Howard | Sun, 19 May 2019

By Rebecca Howard May 20 (BusinessDesk) - New Zealand’s services sector activity slipped further in April, touching the lowest level in more than six years and adding to concerns about an economic slowdown.  The BNZ-BusinessNZ performance of services index fell 0.5 of a poi...

National sticks to bob-each-way on US-China relations in new policy paper
Pattrick Smellie | Sun, 19 May 2019

By Pattrick Smellie May 20 (BusinessDesk) - The National Party proposes ambitious new trade targets for New Zealand's relations with both China and the United States in a foreign affairs discussion document released this morning for public consultation. Overseen by foreign...

Bankers' Assn says RBNZ bank capital proposals would hurt the economy
Jenny Ruth | Sun, 19 May 2019

By Jenny Ruth May 20 (BusinessDesk) - The New Zealand Bankers' Association is calling for a rethink of the Reserve Bank’s bank capital proposals to avoid hurting the economy. “Independent analysis by former Treasury Secretary Dr Graham Scott shows the Reserve Bank should re...

Northland rail upgrade a strategic, not commercial investment - Aecom
Gavin Evans | Sun, 19 May 2019

By Gavin Evans May 20 (BusinessDesk) - Building a new rail link to Marsden Point and upgrading the existing Northland line could bring forward Northport’s development as a major freight handler for Auckland and help boost the broader regional economy, an economic analysis says...

Businesses get some reprieve in March quarter on cheaper prices
Paul McBeth | Thu, 16 May 2019

By Paul McBeth May 17 (BusinessDesk) - Businesses got a reprieve in the March quarter as cheaper wholesale electricity helped push down the prices producers paid in the period.  Prices paid by producers, known as input prices, fell 0.9 percent in the March quarter, its firs...

NZ manufacturing activity expands on month in April but down on year
Rebecca Howard | Thu, 16 May 2019

By Rebecca Howard May 17 (BusinessDesk) - New Zealand's April manufacturing activity expanded versus March but was well down on the year as demand growth continues to cool. The Bank of New Zealand-Business NZ performance of manufacturing index rose 1 point to a seasonally a...

Tourism set to grow 4% annually to 2025, spending to reach $15B
Jenny Ruth | Wed, 15 May 2019

By Jenny Ruth May 16 (BusinessDesk) - International tourist arrivals in New Zealand should grow 4 percent a year between now and 2025 and reach 5.1 million visitors in 2025. That’s up from 3.9 million visitors in 2018, according to figures from the Ministry of Business, Inn...

BUDGET 2019: Govt redirects $197M fees-free underspend to vocational training
Pattrick Smellie | Tue, 14 May 2019

By Pattrick Smellie May 14 (BusinessDesk) - Fewer students than expected have taken up the government's offer of free fees for tertiary education, allowing nearly $200 million over four years to be redirected into a revamp of vocational skills training, Finance Minister Grant...

March guest nights down 4% from last year's earlier Easter
Rebecca Howard | Tue, 14 May 2019

By Rebecca Howard May 14 (BusinessDesk) - Total guest nights spent in hotels, motels, backpackers, and holiday parks fell 4 percent in March from a year earlier largely due to the timing of Easter.  “Guest nights fell across the country in March this year compared with last...

March-year migration rises, according to provisional data
Gavin Evans | Mon, 13 May 2019

By Gavin Evans May 14 (BusinessDesk) - Provisional migration data suggests the country gained a net 4,500 permanent and long-term residents in March, down from a revised 8,565 in February but up from 3,396 in March last year. That takes the provisional net gain for the 12 m...

Jones defiant, apologetic over Provincial Growth Fund politics
Pattrick Smellie | Mon, 13 May 2019

By Pattrick Smellie May 13 (BusinessDesk) - Regional Economic Development Minister Shane Jones mixed defiance with apology for his handling of the Provincial Growth Fund during a briefing intended to demystify the process by which funds from the $3 billion fund are managed....

Kiwis splash out on travel, food in April as card spending rises
Rebecca Howard | Fri, 10 May 2019

By Rebecca Howard May 10 (BusinessDesk) - Spending on credit and debit cards increased in April as people took advantage of the extended holiday period to travel and eat out more.  Seasonally-adjusted card spending increased 0.6 percent in April after a 0.2 percent dip in M...

Govt opens low-carbon summit with $47M commitment to new energy research
Pattrick Smellie | Wed, 08 May 2019

By Pattrick Smellie May 9 (BusinessDesk) - The government will invest $27 million to establish a new energy centre in Taranaki as a gesture towards assisting the region's transition from a multi-billion dollar oil and gas industry to a low-carbon economy. Prime Minister Jac...

Economists say more RBNZ rate cuts are coming
Rebecca Howard | Wed, 08 May 2019

By Rebecca Howard May 8 (BusinessDesk) - The Reserve Bank of New Zealand cut rates by 25 basis points to a record low 1.5 percent and economists expect it to cut again.  Changes to the central bank’s forecasts in the latest monetary policy statement now show a chance for an...

NZ central bank cuts rates, signals more to come
Rebecca Howard | Wed, 08 May 2019

By Rebecca Howard May 8 (BusinessDesk) - The Reserve Bank cut the official cash rate by 25 basis points to 1.5 percent and signaled more cuts to come. The New Zealand dollar fell.  "The Monetary Policy Committee decided a lower OCR is necessary to support the outlook for em...

Short-term inflation expectations lift in RBNZ survey
Rebecca Howard | Tue, 07 May 2019

By Rebecca Howard May 7 (BusinessDesk) - Business managers and finance professionals lifted their short-term inflation expectations in the latest Reserve Bank survey but held their longer-dated view steady.  Respondents to the central bank's quarterly survey predict consume...

Treasury warns growth might be weaker than December forecast
Rebecca Howard | Mon, 06 May 2019

By Rebecca Howard May 6 (BusinessDesk) - Treasury says partial indicators suggest New Zealand's economic growth has been throttled back and may be lower than it forecast in the December half-year update. Among other things, the government's principal financial advisor point...

NZ commodity prices extend gain in April, March figures revised higher
Rebecca Howard | Mon, 06 May 2019

By Rebecca Howard May 6 (BusinessDesk) - New Zealand commodity prices lifted in April and were significantly higher in March than previously reported, ANZ Bank’s monthly commodity price index shows. The ANZ world commodity price index lifted 2.5 percent in April, following...

US earnings season adds weight to Fed's up-beat view
Jenny Ruth | Sun, 05 May 2019

By Jenny Ruth May 6 (BusinessDesk) - Corporate America is adding weight to the Federal Reserve's upbeat view of the US economy with about three-quarters of the S&P 500 Index companies that have reported so far beating earnings forecasts. With only about 50 companies still t...

Alliance expects African swine fever to support meat prices
Rebecca Howard | Thu, 02 May 2019

By Rebecca Howard May 2 (BusinessDesk) - Red meat cooperative Alliance Group said meat prices are strong as the African swine fever outbreak decimates Chinese pork production. Chief executive David Surveyor says meat prices are "generally quite solid at the moment" due to t...

UPDATE: NZ labour data has soft underbelly, will keep rate cut prospects alive
Rebecca Howard | Wed, 01 May 2019

By Rebecca Howard May 1 (BusinessDesk) - New Zealand’s unemployment rate nudged lower and annual wage inflation ticked slightly higher. But given the underlying softness, the data is unlikely to sway the central bank from either cutting rates next week or at least setting the...


Archived pages