Economists have shaved a few basis points off their forecasts for New Zealand economic growth in the next two years even while forecasting stronger wage pressures, according to the NZIER Consensus Forecasts.
Businesses continue to be pessimistic about the New Zealand economy according to NZIER’s latest Quarterly Survey of Business Opinion. Businesses reported that their own activity was faring well, in spite of the gloomy outlook wider economy. Thomas Coughlan reports.
There is plenty of good news for the Government in NZIER’s latest set of quarterly predictions, released this week, although we may have to start working longer before we get a productivity pay rise. Thomas Coughlan reports
For samplers of Newsroom Pro's daily email, here's our first email of the year, which looked at
In this morning's email, we look at why Winston Peters will miss his self-imposed deadline of naming a Government today and who is most likely to be chosen to be the Government.
Business confidence fell during the election campaign, but less than for other elections. Bernard Hickey reports uncertainty about the shape and policies of a new Government are affecting business sentiment, but vehicle and retail sales show businesses and consumers have not put away their wallets.
In today's email we round up the latest regulatory and economic news.
Construction sector confidence slumped in the June quarter despite solid expectations for output and new orders, adding to indications in the March quarter that building activity is coming off its highs under the weight of capacity constraints and tighter credit availability from banks.
The economy could be growing as fast as 4.5% thanks to construction, tourism and retailing booms in Auckland, but high levels of lower skilled migration into Auckland appear to be dampening wage growth there and adding to deflationary pressures, a business confidence survey shows.
The acceleration in mortgage lending this year to the fastest rate since mid 2008 is one factor in the Reserve Bank's thinking about whether to cut interest rates and further tighten its restrictions on highly leveraged lending.