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Struggling export sector hits nation’s deficit
New Zealand’s Balance of Payments current account (external) deficit now stands at 4.8% of GDP, up from the 2.3% and 3.8% recorded in the two previous March years.
Māori economy – burden or taonga?
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Berl Monthly Monitor is our complimentary publication which is issued in February, April, May, July, August, October, and November. This is a shorter format of our Birds Eye view publication, and incorporates four or five short feature articles of topical importance that month.
Flat manufacturing sales volumes in the third quarter
In our previous commentary on manufacturing we noted that the first half of 2013 was looking positive for manufacturing. Now the numbers are in for the third quarter of 2013, and we can see the impact that the warm, dry conditions at the beginning of the year has had on manufacturing sales volumes, and in turn the amount of New Zealand meat and dairy products on the international market.
Milk prices down in June, but fruit and veg prices up
The month of June saw food prices increase by 0.2 percent according to Statistics New Zealand’s latest food price index.
Consumers cautious in the face of winter blues
New Zealand growth still sluggish
GDP grew 1.1% in the three months to March 2012, taking annual growth to 2.4%. The figure was a positive surprise, incorporating conservative growth in primary and manufacturing industries and nearly flat domestic spending. Looking at the detail however, the quarterly figure was helped by a large increase in the statistical discrepancy. Without this contribution growthbin the March quarter would have been a more modest 0.6%.
Trade deficit balloons further
New Zealand's trade deficit is ballooning further, as exports continue to struggle and imports continue to increase. The annual deficit for the year to May was $801 million, up $248 million from the deficit for the year to April.