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 ... Read More

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 ... Read More

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 ... Read More