Monthly Archives December 2011
December 30, 2011 New Zealand Finance
New Zealand’s GDP showed an improvement over the September quarter, with particularly high growth especially in the manufacturing sector.
On December 22nd Statistics New Zealand released the national Gross Domestic Product (GDP) figures for the September quarter, showing that the country’s economic production grew by 0.8 percent in the three month ending in September.
According to Rachel Milicich, the national accounts manager of Statistics New Zealand, throughout the September quarter economic activity was significantly increased in the retail sector, the accommodation industry, and the hospitality industry. The manufacturing sector saw the largest increase in economic activity since 2002, especially from the production of beverage and tobacco products.
During the three months, economic...Read More
December 23, 2011 New Zealand Finance
New Zealanders are increasingly pessimistic about the economy, and new research shows that consumer confidence levels have hit the lowest point since 2009.
On December 19th Westpac bank and the consultancy firm McDermott Miller released a joint report on New Zealanders’ outlooks for the national economy, stating that consumer confidence has fallen sharply over the December quarter.
According to the report, the New Zealand Consumer Confidence Index now stands at 101 points, and has fallen by 10.7 points since the September quarter. The latest drop is sharper than the loss in consumer confidence recorded following the Christchurch earthquakes, and the Index now stands lower than the most pessimistic point throughout the global financial crisis.
The new research indicates that almost 22 perc...Read More
December 22, 2011 New Zealand Taxation
New Zealand’s current account deficit has continued to expand, as price for the country’s export commodities fall.
On December 21st Statistics New Zealand released its quarterly report on the country’s import and export levels, showing that the national current account deficit was larger than expected.
During the September quarter of 2011 the current account deficit in New Zealand reached NZD 2.7 billion, which exceeded the deficit recorded in the June 2011 quarter by NZD 0.7 billion. New Zealand’s total export of goods was valued at NZD 111.7 billion during the latest quarter.Read More
The increased current account deficit was attributed to falling prices of New Zealand’s primary export commodities, especially meat, dairy and forestry products...
December 21, 2011 New Zealand Finance
Over 40 000 new companies were incorporated in New Zealand this year, brinign the total number of companies to more than 500 000.
The Companies Office of New Zealand has released its latest internal statistics, showing the number of new business entities registered in the country during the 12 months ending June 30th 2011.
According to the Companies Office, the Register of New Zealand currently lists 563 856 New Zealand companies, and during the 12 months between July 1st 2011 and June 30th 2011 43 927 new companies were incorporated. In the same time 52 960 company names were reserved, and 451 663 annual returns were filed.
The latest available statistics show a decrease in the number of new companies being registered, with 8...Read More