March 2012 numbers reveal strong GDP growth in Australia
The Australian Bureau of Statistics has released data on the Australian GDP for the March 2012 quarter.
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The four key economic priorities outlined in the 2012 Budget were:
Sluggish growth forecast to continue
In releasing its latest quarterly assessment of prospects for the New Zealand economy, independent forecasters BERL paint a dismal picture for the immediate future.
Sluggish growth forecast to continue
In releasing its latest quarterly assessment of prospects for the New Zealand economy, independent forecasters BERL paint a dismal picture for the immediate future.
Trade figures head into red
New transpacific cable
A new undersea transpacific fibre optic cable connecting New Zealand to the US has been proposed by Auckland based company Hawaiki Cable Limited. Hawaiki Cable, led by former Alcatel Lucent executive Remi Galasoo, has proposed to lay a 14,000 Km undersea cable linking New Zealand, Australia and several Pacific Island nations to the US West Coast through Hawaii by the end of 2015. The company has stated that the cable system will be based on 100 Gigabits per second (Gbps) wavelength technology which will deliver more than 20 Terabits per second (Tbps) of design capacity and have a lifetime of 25 years.
Employment growth – the winners and the losers
Between the start of this century and the end of 2008, employment in New Zealand, as measured by the Household Labour Force Survey (HLFS), was trending upwards more-or-less steadily. In fact, total employment increased from 1.787 million in the first quarter of 2000, to 2.228 million in the fourth quarter of 2008: an increase of almost 25 percent.
South Island continues to lead the way in residential building activity
Residential building consents steadily grew throughout 2012. The year ended with 16,960 consents being issued in the 12 months to December 2012, an increase of 24 percent on the year earlier. Most of this steady growth was due to an increase in residential building consents in the South Island.
Migration inflow turns positive
New Zealand registered a small, yet positive, net migration inflow for the year to January 2013. New Zealand attracted 85,659 people for permanent and long -term migration. This compared with 85,647 departures for the year, which are 1,077 people less than a year earlier.