Jul 13, 2010
The New Zealand Budget cash deficit was below previously forecasted levels, for the 11 months ended May 31st. On July 12th the New Zealand Treasury Department released a statement revealing the country’s latest financial figures. According to the release, the total cash deficit for the period totaled NZD 7.73 billion, approximately NZD 86 million better [...]
The New Zealand Budget cash deficit was below previously forecasted levels, for the 11 months ended May 31st.
On July 12th the New Zealand Treasury Department released a statement revealing the country’s latest financial figures. According to the release, the total cash deficit for the period totaled NZD 7.73 billion, approximately NZD 86 million better than forecasted in the national budget. Excluding gains and losses the deficit was NZD 4.7 billion, an estimated NZD 1.1 billion below forecasts. The improvement has been attributed ... Read More
Jun 24, 2010
The New Zealand Government has reported a fourth quarter of Gross Domestic Product (GDP) growth for the economy, but emphases the need to ensure sustainability. On June 24th the New Zealand Government released a statement announcing a GDP growth figure of 0.6 percent for the March quarter. Additionally, the Government revised its growth estimates for [...]
The New Zealand Government has reported a fourth quarter of Gross Domestic Product (GDP) growth for the economy, but emphases the need to ensure sustainability.
On June 24th the New Zealand Government released a statement announcing a GDP growth figure of 0.6 percent for the March quarter. Additionally, the Government revised its growth estimates for the December quarter, from 0.8 percent to 0.9 percent. Bill English, Finance Minister of New Zealand, commented on the economic results, saying, "The continuing recovery is good news. ... Read More
Dec 26, 2008
According to figures from Statistics New Zealand has shrunk for the third quarter in a row. The last three quarters go down on record as being the worst since 1989, as they have contracted 0.3%, 0.2% in the March and June quarters, respectively, in a measure of Gross Domestic Product (GDP). The September quarter has [...]
According to figures from Statistics New Zealand has shrunk for the third quarter in a row.
The last three quarters go down on record as being the worst since 1989, as they have contracted 0.3%, 0.2% in the March and June quarters, respectively, in a measure of Gross Domestic Product (GDP). The September quarter has decreased by 0.4%.
According to BNZ head of research Stephen Toplis, this is not the end of the bad news with worse to be expected in 2009. Further, ... Read More
Sep 25, 2008
Latest figures have officially confirmed the recession in New Zealand. Figures released on the 26th of September show a GDP shrink of 0.2 percent for the June quarter of 2008. Combined with the March quarter drop of 0.3 percent, the technical definition for an economy in recession, two consecutive quarters of economic falls, has been [...]
Latest figures have officially confirmed the recession in New Zealand.
Figures released on the 26th of September show a GDP shrink of 0.2 percent for the June quarter of 2008. Combined with the March quarter drop of 0.3 percent, the technical definition for an economy in recession, two consecutive quarters of economic falls, has been met.
The cause of the second quarter of contractions has been pinned to tightened credit conditions, lowered domestic spending and a draught affected agricultural industry. It has been ... Read More
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