Following today’s increase in the OCR, a period of stability would be positive for the economy, says BusinessNZ.
Economy & Tax
BusinessNZ has welcomed Labour’s focus on regional prosperity.
Extending the single business number to all businesses, not just registered companies, is a better fit for New Zealand business, says ManufacturingNZ.
The services sector showed improved expansion levels in June, with a seasonally adjusted PSI for June at 54.7.
The manufacturing sector remains in expansion mode, despite some aspects of the results that need to be watched closely in the months ahead, with a seasonally adjusted PMI for June at 53.3.
The BusinessNZ Planning Forecast shows the New Zealand economy is set to achieve around 3.5 percent growth in the short term – one of the highest growth rates in the OECD.
Labour’s immigration policy would create two different levels of minimum wage, says BusinessNZ.
Labour’s signals of more discipline in spending are welcome, but its higher tax proposals are concerning, says BusinessNZ
New Zealand food will be showcased throughout July with a range of initiatives planned for Buy NZ Made’s “Food Month”.
BusinessNZ has welcomed the ACC 2015/16 levy proposals which show that the Work, Earners, and Motor Vehicle Accounts are now fully funded, and that significant premium reductions are possible for next year.
Expansion in the services sector eased back during May, with a seasonally adjusted PSI for May at 54.2.
Although still in positive territory, a second consecutive slowdown in expansion meant the manufacturing sector was at similar levels last seen over a year ago, with a seasonally adjusted PMI for May at 52.7.