NZ economy on track

NZ economy on track

After slightly lower growth in the last quarter, the economy appears back on track for solid growth in the 2017 March quarter, according to the BusinessNZ Planning Forecast.

BusinessNZ Chief Executive Kirk Hope says mediocre weather during spring and summer had meant lower dairy production, and the November earthquakes also contributed to mixed results for the economy.

But he said domestic conditions were improving.

“Tourism is going from strength to strength, and strong migration is contributing to our domestic building boom.

“The international economy is showing some signs of improvement, although the long-term impact of Brexit and the ‘Trump effect’ will bring some uncertainty.

“Overall, the New Zealand economy is on track for sustained solid growth.”

The Economic Conditions Index tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt and business and consumer confidence.

The BusinessNZ Economic Conditions Index sits at 13 for the March 2017 quarter, up 1 on the last quarter, and up 12 on a year ago.

The BusinessNZ Planning Forecast for the March 2017 quarter is on www.businessnz.org.nz.

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30 Mar, 2017

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