17th April 2024 Economy / Export
NZ should become a nation of ‘mini-multinationals’ to help drive exports, according to a new report.
Aotearoa’s food and fibre sector is hitting well below its potential, according to the former boss of global FMCG giant Unilever, Paul Polman.
It is no surprise that the economy entered recession in Q4 2023 given the difficult economic environment facing businesses, says the Employers and Manufacturer’s Association.
Seasonally adjusted gross domestic product fell 0.1% in the three months ended December, according to Stats NZ, driven by weak consumer spending and wholesale trade.
Inflation has slowed to its lowest level in more than two years, according to the latest Consumer Price Index, which was up 0.5% in the December quarter, putting annual inflation at 4.7%.
Rural-focused New Zealand is suffering from a downturn in commodity prices and the severe weather earlier in the year, however, the impacts are not being felt evenly, according to Westpac.
The outlook for growth from New Zealand’s biggest export market looks “highly uncertain”, according to the government’s Pre-election Economic and Fiscal Update 2023.
The repairs following the summer storms and tourism recovering much faster than expected are among the four reasons New Zealand’s economic slowdown is not as bad as expected, says Dominick Stephens.
The New Zealand economy entered a technical recession in the three months to March 2023, marked by a second consecutive quarter of negative growth with a 0.1% drop in GDP.
New research into increasing costs show that while the price of goods and services have increased across the board, inflated profits are not the driving force in New Zealand.
Softer demand has supplanted finding labour as the top primary constraint for businesses surveyed in the New Zealand Institute of Economic Research Quarterly Survey of Business Opinion.
New Zealand appears to have avoided a recession in the first quarter with Infometrics’ March 2023 Quarterly Economic Monitor showing a 2.7%pa rise in provisional economic activity.
New Zealand businesses are continuing to feel pessimistic about the state of the economy, according to the latest business confidence survey conducted by the Auckland Business Chamber.
Gross domestic product (GDP) fell 0.6% in the December 2022 quarter, following a 1.7% rise in the September 2022 quarter, according to quarterly figures released by Stats NZ.
Consumers are continuing to change shopping habits to make their grocery budget go further, according to Foodstuffs’ latest Customer Insights Survey.
A difficult environment with little respite ahead in 2023 prompts some F&B founders to cut their losses.
There has been a sharp deterioration in business sentiment and activity, according to the latest NZIER Quarterly Survey of Business Opinion.
Gross domestic product rose by 2% in the September 2022 quarter compared with Q2, according to Stats NZ, and it was accompanied by a revision upwards for the June 2022 quarter from 1.7% to 1.9%.
Nearly 80% of businesses expect inflationary pressures to get worse over the next year, the latest Central New Zealand Business Confidence Survey has found.
Export incomes are under pressure from weaker global demand and falling commodity prices, but volumes are on track to recover from their current constrained level according to Infometrics’ latest forecasts.
Gross domestic product rose by 1.7% in the June 2022 quarter, following a 0.2% fall in the preceding March quarter, Stats NZ said.
With agricultural incomes set to remain firm, regions with a food-producing rural backbone should continue to outperform their big city counterparts, according to Westpac’s latest Regional Roundup.
Some 90% of Kiwis surveyed have reported rising fuel and grocery prices are affecting their households, according to Westpac.
Gross domestic product rose by 1.6% in the March 2021 quarter, with increased spending on eating out, accommodation and big ticket items.
The bank described the December 2020 quarter results as a tale of two islands as the north continued to outperform the south.
A two-year project will look at the viability of the industry, worth more than $100m to NZ a year.
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