Study Says New Zealand Economy Is Stagnant

29 May 2012 14:00 - Florence Fullalove

Email Article Print Article
    


Study Says New Zealand Economy Is Stagnant

According to a study from the New Zealand Institute of Economic Research (NZIER), New Zealand’s economy is stagnant and looks set to struggle over the next two years because of delays to the Canterbury earthquake rebuild, reluctant consumers, slowing growth in major trading partners, and sluggish investment.

In its Quarterly Predictions report, NZIER said the country is going through a period of playing down debt, and that along with a weak labour market, anaemic wage growth and consumer demand would all combine to limit growth to around 1.5% in 2012.

 NZIER’s Principal Economist Shamubeel Eaqub said, “There is little economic growth and the outlook is challenging,” and added, “Low interest rates are not encouraging new borrowing and investing, as we pay down debt or deleverage.” Eaqub said the Reserve Bank may cut interest rates if the European debt crisis worsens.

The institute predicted growth would to pick up to 2.5% in 2013, little changed from its first quarter forecasts, and 2.4% the year after.

news_15.png
 

Related Links:
• NZIER
Releases and Publications
• Latest News
Regular News Updates

PRODUCT RANGES:

CURRENCY EXCHANGE
Compare Foreign Exchange and Currency >>

LOAN PRODUCTS
Compare Loan and Debt Products >>

CARD PRODUCTS
Compare Cards Products >>

MONEY PRODUCTS
Compare Money Products >>

INSURANCE PRODUCTS
Compare Insurance Products >>

We are always looking at simpler ways of controlling our day to day spending , Transaction accounts are the simplest way this can be done .
30 August 2016
Which Way To Pay
As we all want to keep on top of our financial situation , Transaction accounts can do this for you .
Read More >>
Having the stress of money worries hanging over you day in day out is very stressful. Thats why Bad Credit loans could be your answer.
08 August 2015
Which Way To Pay
When it comes to keep being refused by banks and lenders for a solution to clear your debt once and for all . Bad Credit Loans are there to help.
Read More >>
When spending on your reward credit card , many different benefits whilst using this.
14 May 2015
Which Way To Pay
Make sure you get all the rewards you are entitled to with your Rewards Credit Cards.
Read More >>