Economic outlook improving slowly

Economic outlook improving slowly

A slowly stabilising global economy and positive levels of activity in New Zealand agricultural exports indicate slightly better economic prospects, according to the BusinessNZ Planning Forecast for the March quarter 2012.

Globally, risks remain around unsustainable levels of debt in some developed countries, and reforms are required before markets will have the confidence to invest, but recent relatively solid economic data from the US is positive.

From New Zealand’s perspective, continued growth in our trading partners is ensuring good commodity returns, while continued debt reduction by businesses and households is helping the New Zealand economy find a surer footing.

The BusinessNZ Planning Forecast incorporates BusinessNZ’s Economic Conditions Index (ECI) which tracks 33 indicators, including GDP, export volumes, commodity prices and inflation, debt and confidence figures.

The ECI sits at 6 for the March quarter, up 9 from the previous quarter and down 1 on a year ago.

The BusinessNZ Planning Forecast for the March 2012 quarter is on businessnz.org.nz/.

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20 Mar, 2012
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