Economy on the mend, but global threats loom, says NZIER
New forecasts from the NZIER say the economy is growing slowly this year and keep growing next year, but exports are threatened by a potential global slowdown.
New forecasts from the NZIER say the economy is growing slowly this year and keep growing next year, but exports are threatened by a potential global slowdown.
The US and European sovereign debt crises will likely push up the cost of funding for NZ banks, the head of the BNZ says.
The Japan tsunami has derailed the Government's plan to put out the begging bowl to the world to pay for the rebuilding of Christchurch.
The economy will now barely grow at all in 2011, because of a "noxious mix" of spiking global petrol and food prices along with the impact of the second Christchurch earthquake, says NZIER.
Research showing the 90-day trial law had helped more people get work in small firms is 'fatally flawed' says the Council of Trade Unions.
The economy rebounded in the December 2010 quarter, after contracting in September, according to the latest Quarterly Survey of Business Opinion.
The New Zealand dollar faces pressure in its first full week of trading in 2011 as support for the greenback is bolstered by upbeat US data and renewed fears about European debt.
Appliance stores hit by dwindling sales are offering free televisions when customers buy refrigerators, and grocery vouchers when they buy ovens.
Economists have wound back their expectations for NZ's recovery.
The Christchurch earthquake is expected to provide a much-needed lifeline for NZ's beleaguered construction sector.