New Zealand Institute of Economic Research tagged posts

NZIER Predicts Slow Economic Recovery

March 1, 2010 New Zealand Finance

All that's left !The New Zealand Institute of Economic Research (NZIER) has released its latest report, in which it describes New Zealand’s economic recovery over the upcoming years as “jagged”, along with “bumpy and subdued”.

On March 1st, the NZIER released the March 2010 Quarterly Predictions report, which stated that although New Zealand is no longer facing a recession, its economic recovery will be slow and “jagged”. Growth of only 2.7 percent was projected for the 2010 calendar year, and 1.4 percent for 2011. Shamubeel Eaqub, NZIER Principal Economist, stated that several key economic indicators, both internationally and locally, are giving cause for concern and calling for restraint on any recovery estimates.

According to the report, the New Zealand Reserve Bank does not yet have any...

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Australian OCR Cut to 3%

April 7, 2009 International FinanceNew Zealand Finance  No comments

The Australian Official Cash Rate (OCR) has been cut to 3% on the 7th of April, although it was preceded with less certainty than in previous times.

Even while according to a Reuters poll of 21 economists only 13 thought that an OCR decrease was likely, it has been cut by 25 basis points to 3%. According to a Reserve Bank of Australia media statement, the Australian economy is shrinking (albeit not as fast as some of its trading partners), as such the newest cut is warranted.

Similar action is looking increasingly likely after the same day publication of the Quarterly Survey of Business Opinion (QSBO) by the New Zealand Institute of Economic Research (NZIER)...

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Recession Claims in New Zealand

September 3, 2008 New Zealand Finance  No comments

New Zealand is in a recession, according to a report published on the 2nd of September by The New Zealand Institute of Economic Research (NZIER).

Based on its own Quarterly Survey of Business Opinion, combined with the March 2008 quarter GDP decline of 0.3 percent, the NZIER claimed that the economy would see decline for the June and September quarters, technically classifying the economic situation as being in recession.

The report went further to say that it appears that is the bottom of the recession cycle, with food and energy prices now lowering. Combined with the October slated tax cuts, the report claimed that private consumption would soon be boosted, although interest rate cuts were not predicted for the foreseeable future.

The report can be seen at the New Zealand Institute of Ec...

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