News and Views

NZ economy – keep calm, carry on

The BusinessNZ Planning Forecast for the September 2017 quarter shows strong growth over several sectors of the New Zealand economy, with key economic indicators pointing to better than 3 percent growth over the forecast period.

Construction, manufacturing, services, tourism and agriculture are performing strongly, said BusinessNZ Chief Executive Kirk Hope.

“Inflation remains well under control, helped by a relatively strong NZ dollar, which is also offsetting rises in international commodity prices.

“It now looks as though interest rates will remain on hold longer than expected – good for many business balance sheets.

“While there are a number of risks to the economy, including household debt levels and infrastructure pressures, most economic indicators are positive.”

The BusinessNZ Economic Conditions Index is now at 15 for the September 2017 quarter, up 4 on the last quarter, and up 5 on September 2016.

The Economic Conditions Index tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt and business and consumer confidence.

Source: BusinessNZ

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