GDP figures expose business confidence survey nonsense

Written By: - Date published: 1:29 pm, September 20th, 2018 - 99 comments
Categories: business, capitalism, Economy, economy - Tags: , ,

Gross Domestic Product in the June quarter rose 1.0%, exposing the ANZ Bank’s Business Outlook confidence survey as little more than a National Party and big business propaganda tool.

At an annualised growth rate of 4.0%, the economy has been expanding well beyond what the Reserve Bank believes is sustainable without creating excessive inflation and may have to be hosed down by an interest hike.

The RBNZ, which had forecast only a 0.5% rise in GDP in the quarter, estimates the sustainable annual growth rate is only around 3.0%.

Analysis by independent researchers at the Parliamentary Library shows the ANZ Business Outlook has the poorest correlation between what is forecast and reality of major forecasting tools.

Both Treasury’s and RBNZ’s forecasts have been far more accurate as has the Outlook’s survey of businesses’ own prospects.

Throughout the years of the Clark Labour government ANZ’s Outlook survey remained gloomy despite the economy growing at an average 3% during those nine years.

Westpac Bank economists said today’s data showed encouraging signs in the economy.

“Not only was the overall result stronger than expected, the details were more encouraging for the economy’s growth prospects going forward,” Westpac economists said in a note.

Growth was shared widely across the whole economy.

Ironically, ANZ’s senior economist Liz Kendall admitted the economy is “in an okay space”.

Net exports, which ANZ had forecast would be negative in the quarter, instead made a solid positive contribution.

The only negative contributor was — surprise, surprise — business investment – no doubt the result of the funk that business leaders have talked themselves in the wake of the surprise election result that tossed the National Party out of government.

Westpac economists said the result was significant for the Reserve Bank’s official cash rate decision next Thursday. Any thought the economy needs more stimulus via a further cut from the already low Official Cash Rate level of 1.75% can be cast into the same garbage bin as the Outlook survey.

Capital Economics said the Reserve Bank can assume consumer and business gloom is overdone and that growth would “reaccelerate” next year.
Though Westpac’s Consumer Confidence Survey shows consumer confidence at six-year lows, optimists still outweigh pessimists. Its chief economist Dominick Stevens says consumers may be simply reacting to the highly publicised negativity of the business community.

A recent IPSOS survey showed New Zealanders are feeling more positive about the Labour-NZ First coalition government than they were about the previous one.

Recipients thought that the current Labour-led government was doing a much better job than National was in July 2017. Labour scored a mean score of 5.4 out of a maximum possible score of 10, and National scored 4.9.

(Simon Louisson has reported for The Wall Street Journal, AP Dow Jones Newswires, New Zealand Press Association and Reuters and has worked as a political and media adviser to the Green Party.)

99 comments on “GDP figures expose business confidence survey nonsense ”

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  1. greywarshark 1
    20 September 2018 at 2:17 pm

    It’s all nonsense that comes out of the financial authorities, business and government.

    The latest relates to the Australian Agriculture Minister who says that his name is Littleproud. How can you believe any people who come out with odd things like that?
    https://www.stuff.co.nz/business/world/107223952/boy-arrested-over-pins-in-australian-strawberries

    And if our business confidence is low with so little weighing down our business scales, what is Australia’s like now that tonnes of F&v are getting discarded as some of their own anomic atomics have been putting needles in strawberries with hateful glee and abandon?

    It is hard to find the balance between going doolally or po-faced, regarding everything as a potential threat that is yet to be revealed.

    • Muttonbird 1.1
      20 September 2018 at 2:29 pm

      You should alway wash and cut strawberries before eating. Preferably with vanilla ice-cream and dusted with icing sugar.

      • peterh 1.1.1
        20 September 2018 at 5:06 pm

        Never Icing sugar, I have was a strawberry grower for 30 years, always castor sugar and a small amount 1 dessertspoon of brandy per chip

        • JanM 1.1.1.1
          20 September 2018 at 5:51 pm

          Even better – dip in sour cream and then raw sugar – super yum!

          • In Vino 1.1.1.1.1
            20 September 2018 at 6:35 pm

            Sorry – it has to be top French Champers as in ‘Brideshead Revisited’. Forget the rest of that sugary stuff: sugar is now the new evil.

  2. Kat 2
    20 September 2018 at 2:25 pm

    All those business’s will still be sulking about as they begrudgingly throw their toys back into their blue cots. They have been shown up for the “funk” merchants they are. What will Amy Adams say now.

    • Wensleydale 2.1
      20 September 2018 at 2:40 pm

      “It was Labour’s fault!” probably. Isn’t that the go-to line whenever they’re caught with their pants around their ankles?

  3. Siobhan 3
    20 September 2018 at 2:29 pm

    Growth was shared widely across the whole economy….if only the benefits were shared fairly across the whole gamut of citizenry…then again as long as the Citizens are only ever referred to, or acknowledged as, ‘Consumers’, and when even a political and media advisor for the Green Party can write a piece about the economy without even once mentioning the word ‘worker’…then you realise why the business sector think their miserable opinions and vague feelings are all that really matter.

  4. Andre 4
    20 September 2018 at 2:30 pm

    Seems we need an addition to the old one about the reason we have economic forecasters is to make astrologers look good: we have business outlook surveys to make economic forecasters look good.

    • greywarshark 4.1
      20 September 2018 at 3:01 pm

      What is happening Andre? I seem to agree with you. It gives me a strange tingly feeling. Hmmmm.

  5. shadrach 5
    20 September 2018 at 2:30 pm

    The author seems to be confused.

    A 1% growth in one quarter is not an annualised growth of 4%, other than by a simplistic mathematical formula. The actual growth rate over the June year was 2.7% (https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12128463).

    Also, the author writes “which had forecast only a 5% rise in GDP in the quarter”, surely the rise forecast was 0.5?

    But perhaps the most obvious confusion is over the difference between business confidence and GDP numbers. The GDP number is an historical measure of what actually happened. Business confidence is business perception of what MAY happen. In my view business is being overly negative in its outlook, but we will only know that when economic results from the confidence period are matched.

    [lprent: Corrected the typo .5% -> 5% and all of the other bumf that happens when pasting from a word document.

    Personally I see this as being a classic case of whining by the economic parasites in the property sector, their supporting bankers, and other unproductive areas of limited economic value (including Mike Hoskings). Meanwhile the quiet productive people just work and don’t fill out questionnaires from Business NZ or banks. ]

    • soddenleaf 5.1
      20 September 2018 at 2:42 pm

      Obviously the announcement over tax changes will dampen some intentional confusion exciting confidence drops. Consumer confidence may reflect the awful scam that is food supermarket shopping. Business and consumer confidence are likely at odds, unless something is stressing the whole sector leave both down. I.e change is coming and about time. Key govt was a disaster for all.

      • shadrach 5.1.1
        20 September 2018 at 2:48 pm

        How can a 6 year low in the consumer confidence survey (https://www.newshub.co.nz/home/new-zealand/2018/09/new-zealand-consumer-confidence-drops-to-six-year-low-survey.html) relate to ‘the awful scam that is food supermarket shopping’ (whatever that is supposed to mean), when supermarket shopping has been around for decades?

        • greywarshark 5.1.1.1
          20 September 2018 at 3:03 pm

          How can you state that something has been round for decades and imply that means that everything about it is known, settled and unchanging. Do you live on another planet?

          • shadrach 5.1.1.1.1
            20 September 2018 at 3:07 pm

            I didn’t imply that. My response to soddenleaf was a question. I assume he/she will reply by explaining what they mean by ‘the awful scam that is food supermarket shopping’.

            • Dukeofurl 5.1.1.1.1.1
              20 September 2018 at 3:45 pm

              ” In my view business is being overly negative in its outlook, but we will only know that when economic results from the confidence period are matched.”

              It was the June quarter- April-may- Jun.

              ( btw the ANZ itself had a ripper of a first half -‘statutory profit of NZ$964 million, up 11% on the corresponding half in the 2017 financial year- but I digress to the real world and back to the chin stroking)

              Actual Morgan-ANZ survey was
              April- Headline business confidence eased further in April. A net 23% of
              businesses are pessimistic about the year ahead, down 3 points from March
              May-A net 27% of businesses are
              pessimistic about the year ahead, down 4 points from April.
              June-a net 39% of businesses were pessimistic

              So there are your ‘confidence’ numbers to compare shadrach- down down down
              real world – UP

              https://www.anz.co.nz/about-us/economic-markets-research/business-outlook/

              • shadrach …
                20 September 2018 at 5:38 pm

                I agree. My comments related to comparisons between current survey’s (i.e. ones being published now) and historical data.

                • Dukeofurl …
                  20 September 2018 at 6:59 pm

                  There isnt much difference between surveys ‘now’ and surveys in the first half the year.

                  You are just talking nonsense when you want month by month comparison- I gave it to you and you just try your normal gish gallop onto new questions.

                  • shadrach …
                    21 September 2018 at 10:31 am

                    “There isnt much difference between surveys ‘now’ and surveys in the first half the year.”
                    The difference is timing. I was referring to current survey’s, not as far as the results but as far as what data we should be comparing them to.

            • mickysavage 5.1.1.1.1.2
              20 September 2018 at 3:48 pm

              Looks like a certain sector has managed to talk themselves into a huff. Meanwhile in the real world things are not so bad.

              The only practical threat to our economy is America’s behaviour. This Labour Government, like all other Labour Governments knows how to steer the economy.

              • shadrach …
                20 September 2018 at 5:39 pm

                “Looks like a certain sector has managed to talk themselves into a huff. Meanwhile in the real world things are not so bad.”
                Absolutely.

                “This Labour Government, like all other Labour Governments knows how to steer the economy.”
                Let’s not forget it was a Labour government (from 1984) that laid the foundations for the economic prosperity we now enjoy.

                • Dukeofurl …
                  20 September 2018 at 6:55 pm

                  really ?

                  And Australias record length of positive growth with its capital gains tax, national awards and so on.
                  Rogernomics actually decreased growth over the last 30 years or so.

                  The rationale for the reforms was our economic growth was ‘too low’ at the time.

                  Actual numbers haven’t changed all that much afterwards, ie were still hovering around the 2% plus level.

                  But you of course will now say – another round of Rogernomics is the answer rather than looking at at near neighbour who never did.

                  • shadrach …
                    21 September 2018 at 10:16 am

                    “And Australias record length of positive growth with its capital gains tax, national awards and so on.”
                    Australia’s growth for decades has been built around mineral extraction. And Australia implemented it’s own brand of Rogernomics throughout the 80’s and 90’s.

                    “Rogernomics actually decreased growth over the last 30 years or so.”
                    I doubt that, but I’m happy to review your evidence.

                    “The rationale for the reforms was our economic growth was ‘too low’ at the time.”
                    No, the rationale was that Muldoon’s command economics had near wrecked the economy, and that we had to move to being a more competitive economy on the global market.

                    • Dukeofurl …
                      21 September 2018 at 12:58 pm

                      “No, the rationale was that Muldoon’s command economics had near wrecked the economy”

                      He used the levers of the state to maintain nationals rural electorates. Key offered the same command economics when they said they would pay employees for short weeks during GFC.

                      Wasnt printing money during the GFC also command economics.

                    • shadrach …
                      21 September 2018 at 3:28 pm

                      “He used the levers of the state to maintain nationals rural electorates. Key offered the same command economics when they said they would pay employees for short weeks during GFC.”
                      During a GFC. Muldoon deployed command economics when he should have been liberalising. Thank goodness for Douglas.

                • Ross …
                  21 September 2018 at 6:40 am

                  Let’s not forget it was a Labour government (from 1984) that laid the foundations for the economic prosperity we now enjoy.

                  Yeah nah. We were prosperous in the 60s and to a large extent in the 1970s when we had full employment or near-full employment. But the Labour government of 1984, and those which followed, didn’t think full employment was a goal worth pursuing. “Rob Muldoon once half joked he knew all 70 odd registered unemployed by name. Yes that was 70!”

                  http://www.scoop.co.nz/stories/HL1409/S00069/why-cant-we-have-full-employment-in-new-zealand.htm

                  We are a low wage economy. Some workers, like nurses and teachers, are trying to change that. But it’ll be changed by taking industrial action and by negotiating hard. It won’t be changed by a benevolent government.

                  • Halfcrown …
                    21 September 2018 at 6:51 am

                    +1

                  • shadrach …
                    21 September 2018 at 10:17 am

                    The only reason we were prosperous in the 60’s was because we had captive markets for our farm production. Thus low unemployment. Those days went with Britains entry into the EEC.

                    • Dukeofurl …
                      21 September 2018 at 12:52 pm

                      You have a fairly tale view about ‘captive market’

                      ‘British bulk purchase of NZ farm exports ended in 1954 and from then NZ had to negotiate access. One limit on NZ exports was the increasing output of British farmers – a policy decision which was understandable in light of British vulnerability to blockade in time of war. Another was Britain increasing dairy imports from Scandinavia, Eastern Europe, and Ireland.

                      In 1957, the minister of agriculture, Keith Holyoake, had to threaten to end preferential treatment for British manufactured exports to NZ in order to secure continued free access for NZ meat and dairy produce to Britain.
                      “From 1961, NZ reluctantly accepted quotas on dairy exports to Britain as the only way of maintaining reasonable prices.

                      British were always did anything on self interest.
                      In reality joining the EU mean similar rules for British and existing EU markets.

                      We were always being screwed by UK , even before WW2
                      https://www.victoria.ac.nz/news/2016/07/it-wasnt-all-sweetness-and-light

                    • shadrach …
                      21 September 2018 at 3:26 pm

                      All of which demonstrates that Britain supported our export income well into the 1970’s.

                    • Dukeofurl …
                      21 September 2018 at 6:14 pm

                      Not really any more so than today.
                      It wasnt ‘Britains farm’ that some seem to push

                      as a bloc exports from nz to EU are $8 bill, which is dwarfed by imports of $11.5 bil

                      ‘In the 1950s more than 50% of New Zealand produce received no preferential treatment in Britain, yet 90% of British goods got preferential treatment in New Zealand.’

                      And of course NZ retained special access to EU after Britain joined.

                      The 2 major oil shocks of the 70s and Muldoons farmer subsidys/Think Big just made times a bit harder than they should

                    • shadrach …
                      21 September 2018 at 9:53 pm

                      “Not really any more so than today. It wasnt ‘Britains farm’ that some seem to push.”
                      Wrong.
                      “A continuing role as ‘Britain’s farmyard’ underpinned New Zealand’s prosperity. While Britain began to contemplate closer economic ties with continental Europe, for most New Zealanders an economy without the certainty of the British market seemed unthinkable. At the end of the decade the UK received more than half our exports and provided nearly half our imports. ”
                      https://nzhistory.govt.nz/culture/the-1950s/overview

    • Draco T Bastard 5.2
      20 September 2018 at 2:47 pm

      Business confidence is business perception of what MAY happen.

      Are you sure about that?

      Consider that there are business outlook and business prospects surveys and that they contradict each other with the latter being closer to what actually happens in GDP.

      Analysis by independent researchers at the Parliamentary Library shows the ANZ Business Outlook has the poorest correlation between what is forecast and reality of major forecasting tools.
      Both Treasury’s and RBNZ’s forecasts have been far more accurate as has the Outlook’s survey of businesses’ own prospects.

      We’re seeing a major conflict in business peoples mindset as they say that the economy is all going to hell but their business will be doing well.

      • shadrach 5.2.1
        20 September 2018 at 3:04 pm

        “Are you sure about that? Consider that there are business outlook and business prospects surveys and that they contradict each other with the latter being closer to what actually happens in GDP.”
        Both survey’s look to the future, as ‘outlook’ and ‘prospects’ are both future looking concepts. So yes, I am sure.

        “We’re seeing a major conflict in business peoples mindset as they say that the economy is all going to hell but their business will be doing well.”
        That’s understandable, given the lag between policy implementation and outcomes. Business people may perceive that the government is implementing policies unfriendly to business, but those policies may not be impacting them yet. We are one year into a new government; realistically there has not been enough time for policy changes to have impacted materially on business performance, if indeed they are going to.

        • Muttonbird 5.2.1.1
          20 September 2018 at 3:10 pm

          I though you guys said the government was doing nothing but setting up working groups. Now you say they’ve made policy changes.

          Please make up your mind.

          • shadrach 5.2.1.1.1
            20 September 2018 at 3:30 pm

            Who are ‘you guys’?

            This government has made a number of policy announcements that impact on business, including around the minimum wage, oil and gas exploration, regional investment, building and construction, the list goes on.

            • Dukeofurl 5.2.1.1.1.1
              20 September 2018 at 3:52 pm

              “including around the minimum wage, oil and gas exploration”

              Minimum wages were increased every year by national – so not too much change there.
              Oil and Gas- that only impacted future ‘applications’ for non taranaki and offshore exploration. Thats not a major activity as offshore has negligible local impact as floating rigs and ships come from overseas with their own staff.

              • shadrach …
                20 September 2018 at 5:42 pm

                “Minimum wages were increased every year by national – so not too much change there.”
                Perhaps only in the rate of change, but in principle you are correct.

                “Oil and Gas- that only impacted future ‘applications’ for non taranaki and offshore exploration. Thats not a major activity as offshore has negligible local impact as floating rigs and ships come from overseas with their own staff.”
                I disagree on that one. The problem for business was not the decision per se (although some may disagree!), it was the lack of consultation.

                • Dukeofurl …
                  20 September 2018 at 6:50 pm

                  Oil and gas exploration is a tiny part of the economy. The webiste for Fitzroy Enginnering in NP shows their O&G work is overseas and the local work is mostly construction based.
                  Lack of consultation is just a buzz word about what used to happen under nationals Cabinet Clubs

                  • Muttonbird …
                    20 September 2018 at 6:53 pm

                    I also see that the massive 20% drop in economic activity in the oil sector was down to a failure on one rig.

                    That goes to show how small it is and how unreliable it is.

                    Glad to be done with it – roll on sustainables!

                    • shadrach …
                      21 September 2018 at 10:30 am

                      I agree. But the point I was making was about consultation. If the government wants to enjoy the tax revenues that flow from business, it needs to send it clear and consistent signals, and talk to it before making decisions of this nature.

                  • shadrach …
                    21 September 2018 at 10:19 am

                    I agree, but that’s not the point. The point is that a government made a decision about an industry without consultation. I’m not commenting on the quality of the decision, just the quality of the signalling.

                    • lprent …
                      21 September 2018 at 10:35 am

                      Several points.

                      1. Nothing has happened to any existing concession gained from the government. Most of those have decades to run.

                      2. The policy simply limits future concessions. If a business or even an employee was banking on things happening in the future as they have in the past when politics is involved then they shouldn’t be in business.

                      3. As I remember it, this was flagged as being policy in two of the three parties long before they formed this coalition. It was going to be implemented if they got elected. This in the business world that I inhabit is known as ‘risk’. Risk is something that must be managed, have contingency plans and alternate strategies. Managers and shareholders who can’t do that deserve to fail.

                      4. The oil business have a perfect democratic right to transparently lobby before and after the election. They did. All of their work appears to have focused on a 3rd term National – which makes them look stupid.

                      To be frank, what we are seeing is simple whining by businesses attempting to be parasites on our citizens. They had ample opportunity to deal with this over the last 15 years that Labour have been signalling that this was where their policy was heading (and the Greens even longer).

                      Parasite businesses battening off future concessions can go screw themselves…

                    • shadrach …
                      21 September 2018 at 10:51 am

                      LPrent

                      You make some good points, but I’m not sure they address the point I’m trying to make. For example you say “The oil business have a perfect democratic right to transparently lobby before and after the election.” Well that’s correct, but it’s difficult to lobby about something you don;t know is going to happen.

                      You say “To be frank, what we are seeing is simple whining by businesses attempting to be parasites on our citizens. ” How is the oil and gas industry ‘parasites on our citizens’? The industry provides products to our community and saves the country money in the process. If we don’t want to burn fossil fuels, we need to address the demand side first.

                      But overall your comments address only the one industry, not the wider concern of business. The government made this decision against a single industry for reasons of it’s own. Whatever the merits of those reasons, it should have consulted with the industry first. If the government can do this to one industry that doesn’t meet it’s ‘favour’, then it can do it to others. It’s perception.

                    • shadrach …
                      21 September 2018 at 11:04 am

                      Sorry, but to add to the above, in response to your point abut pre-election policy:

                      “However, the decision to stop issuing offshore oil and gas exploration permits was not pre-election policy. Although Prime Minister Jacinda Ardern was musing privately months ago about the politics of such a move, it is barely a month since she broke from her formal programme to accept a petition from Greenpeace on the forecourt of Parliament.”
                      https://www.noted.co.nz/currently/environment/is-the-govts-ban-on-new-oil-and-gas-exploration-brave-or-naive/

                      And when you say “It was going to be implemented if they got elected”, are you seriously suggesting that any policy that was contained in at least two of the coalition partners pre-election manifesto’s is ‘going to be implemented’?

                • Craig Glen Eden …
                  20 September 2018 at 8:49 pm

                  “Lack of consultation” oh please! No new ability to get a right to drill after 2050. Shit how much lead in time do you want? Wouldn’t it have been nice if Opunake Maori was told years in advance that a company wants to remove iron sand from its ocean floor. Makes me laugh how big Business thinks it should get preferences that the average citizen, local Comunity or Maori tribe don’t get. The self interest and political bias shown by big business is sickening.

                  • You_Fool …
                    21 September 2018 at 9:15 am

                    Also, anyone who had any sense knew the announcement was coming, it was well telegraphed and something had to be given to the greens early on as well

                  • shadrach …
                    21 September 2018 at 10:20 am

                    Lead time is not consultation.

                    • shadrach …
                      21 September 2018 at 11:14 am

                      “It is disingenuous to claim that existing permits might sustain a healthy oil and gas sector until the 2040s. The fruitless hunt for major gas fields in the Great South Basin since the 1960s proves the point that exploration is expensive and usually unsuccessful.

                      But perhaps the biggest risk is the promise of a Government-led “transition” to new industries of the future. Airy ministerial talk of capital being redeployed to new activities is a carbon copy of Rogernomics-era rhetoric. Capital was redeployed, but not necessarily in New Zealand.

                      The Government is talking a big game on its ability to direct the emergence of such new industries, but its capacity to deliver this upside of transformative change is untested and the value of the industries it is disrupting is all too measurable.”

                      https://www.noted.co.nz/currently/environment/is-the-govts-ban-on-new-oil-and-gas-exploration-brave-or-naive/

                    • Dukeofurl …
                      21 September 2018 at 1:48 pm

                      Consultation doesnt mean you get any of your concerns either. You are just using it as a rehetorical stick but doesnt have any real meaning that you are personalyy aware of.

                      I know small business owners connected to Fletchers who are often the last to hear about its sudden changes in direction. Much the same for Fonterra and other large businesses. the only consultation is internal.

                      Oil and Gas firms had won a number of exploration rights back when oil prices were sky high.

                      The price collapse meant in some cases they ‘walked away’ from previously won exploration ( drilling) obligations.

                      Where was the consultation then other than – Dont want it anymore.

                      ” Oil and gas exploration has collapsed to $10 million in 2015 from $300 million in 2010 due to international market changes,”
                      https://www.newsroom.co.nz/2018/04/21/105687/rod-oram-shedding-light-on-the-gas-sectors-claims

                      and
                      2012 -Brazilian oil giant Petrobras dumps NZ exploration permits
                      https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10851863

                    • shadrach …
                      21 September 2018 at 3:32 pm

                      “Consultation doesnt mean you get any of your concerns either.”
                      No, but it means you get to contribute to the debate in a meaningful way.

                      “You are just using it as a rehetorical stick but doesnt have any real meaning that you are personalyy aware of.”
                      Oh yes it does. consultation would have enabled the industry to argue it’s case, including pointing out the unintended consequences of the decision, such as loss of jobs (“Methanex, which exports more than a billion dollars’ worth of natural gas a year as methanol, will probably disappear. Its Think Big-era plants at Motunui and Waitara can be unbolted and moved to another country)” and potentially higher short term emisssions (However, the naivety of the Government’s new policy is that it will not, of itself, reduce global carbon emissions, but could increase New Zealand’s if it leads to more coal use in the meantime).

                      https://www.noted.co.nz/currently/environment/is-the-govts-ban-on-new-oil-and-gas-exploration-brave-or-naive/

                      It seems to me you are arguing for shoddy practise simply because you approve of the decision. That’s shallow and self serving.

                    • Dukeofurl …
                      21 September 2018 at 6:24 pm

                      Job losses like this – Not
                      http://www.interest.co.nz/news/94853/methanex-signs-agreements-gas-suppliers-so-it-can-keep-producing-methanol-nz-until-least
                      kiwiblog isnt a reliable source for economic information

                    • shadrach …
                      21 September 2018 at 9:55 pm

                      What has kiwiblog got to do with my source?

        • Dukeofurl 5.2.1.2
          20 September 2018 at 3:48 pm

          I remember much the same views of the US economy in election year 2016

          If you were a Trump supporter , egged on by Trump himself, the economy was in the doldrums and any numbers that said different were ‘faked by Obama’

          Come the year after the election and the economy was much the same path, but same numbers were ‘best ever’ – even when they wernt .

        • Draco T Bastard 5.2.1.3
          20 September 2018 at 11:19 pm

          Both survey’s look to the future, as ‘outlook’ and ‘prospects’ are both future looking concepts. So yes, I am sure.

          What a load of bollocks.

          They are not the same. One looks to the average business person’s belief on how the country is doing and one looks their belief on how their business is doing. They only have any sort of understanding of the their business and even that’s likely to be more belief than real understanding.

          That’s understandable, given the lag between policy implementation and outcomes.

          And there you’re just making excuses for the average business person’s incomprehension that they haven’t got a friggen clue.

          • shadrach 5.2.1.3.1
            21 September 2018 at 10:24 am

            “One looks to the average business person’s belief on how the country is doing and one looks their belief on how their business is doing.”

            The words ‘outlook’ and ‘prospects’ are both about the future. I can suggest a good dictionary if necessary.

            “And there you’re just making excuses for the average business person’s incomprehension that they haven’t got a friggen clue.”
            Really? Do you have any connection or contact with the business community in NZ? I’d suggest your comments reflect your own ignorance and just a shade of envy.

    • Chuck 5.3
      20 September 2018 at 3:01 pm

      Yep, you have Leading, Lagging, and coincident indicators.

      GDP is a coincident indicator (happened roughly at the same time as the result measured).

      Business Outlook confidence survey…well as in its title – an Outlook.

      • SPC 5.3.1
        20 September 2018 at 5:14 pm

        The outlook before the June quarter began was pessimestic …. yet the growth was 1%.

        If you look at the surveys more closely, they were pessimistic about the general economy (for political reasons) but not for their own business – which explains the result.

    • Simon Louisson 5.4
      20 September 2018 at 5:58 pm

      You’re right about the typo — it should have been 0.5% but the annualised figure of 4% is ok — that is the current run rate – multiplying the last quarter by 4. The historical annual average growth rate for the last year was 2.7% — essentially adding the 4 quarters.

      • shadrach 5.4.1
        21 September 2018 at 10:26 am

        Hi Simon

        Multiplying the current quarter by 4 is ok mathematically, but it is far to simplistic to mean much from an economic analysis standpoint.

  6. ankerawshark 6
    20 September 2018 at 3:09 pm

    Ha, ha ha ha ha ha ha.

    But Barry S said Jacinda’s comment was economically dangerous. Surely the ships about to sink

    • lprent 6.1
      20 September 2018 at 3:12 pm

      Barry Soper is a economic numbskull more interested in filing stories than actually thinking.

      The problem is that there are so few economically literate people in the parliamentary press gallery that we get all kinds of trash passing through them direct from National’s similarly business stupid cortiere of staffers.

      A bit like undigested peanuts in stools. If you don’t grind them closely with your teeth then you get white flecks in the output. 😈

      • Stuart Munro 6.1.1
        20 September 2018 at 3:22 pm

        It’s a lot like Blomkvist’s description of business reporting in The Girl With The Dragon Tattoo – no standards whatsoever. Even Enron was being lauded 2 years before it went belly up.

      • ianmac 6.1.2
        20 September 2018 at 3:23 pm

        Does that mean Soper is a white fleck?

      • In Vino 6.1.3
        20 September 2018 at 3:49 pm

        lprent – is there an explanation for that strange word ‘cortiere’? I assume you meant ‘côterie’? (‘Cortège’ might be a wishful possibility?)

        • Dukeofurl 6.1.3.1
          20 September 2018 at 3:54 pm

          Im sure the ‘coterie’ are writing their ‘we were duped’ stories for tomorrow ?

        • lprent 6.1.3.2
          20 September 2018 at 5:00 pm

          Yep. I didn’t spell check it.

          My natural written English is that of Shakespeare. You wave a pointed stick at the word that you want and see what pops out this time.

          It’s a battlefield. However these computers are like a pacifist corset – they constrain expression.

          • In Vino 6.1.3.2.1
            20 September 2018 at 5:07 pm

            Yes… I suppose we can be glad that it did not come out as ‘corsetry’..

            • lprent 6.1.3.2.1.1
              20 September 2018 at 5:09 pm

              Indeed.. 😈

            • lprent 6.1.3.2.1.2
              20 September 2018 at 5:17 pm

              That’s ok.

              I just butchered pronouncing ‘renaissance’ with a few extra ‘a’s attached to the gales of laughter from my partner. She nearly had a nasty accident.

              But seriously, this week is the first holiday I have had in a couple of years. I can drop the compiler taskmaster and its insistence on accuracy. I am free to wander through the freedom of the english language landscape and let everything hang out.

              Being in vino helps of course.

              • In Vino …
                20 September 2018 at 7:00 pm

                Yes – the renaissance is tricky: I blame other tricky French words like liaison.. and the illogicality of English in general. Bonne continuation with the holiday and vino.

  7. AB 7
    20 September 2018 at 3:56 pm

    It’s possible to have GDP growth and decreasing business confidence.
    Business confidence is more based on where the fruits of economic growth are going.
    If higher GDP is indicative of higher wages and more spending into the economy, but squeezed profits, business confidence will go south.
    Conversely, if GDP growth is based on increased economic activity due to people being so desperate they’ll do multiple, casualised, low paid jobs, business confidence goes ups.
    Business confidence is dropping because they fear they are moving from the latter scenario (enabled by National) to the former. Not much to do with GDP in itself.

    • Patricia Bremner 7.1
      21 September 2018 at 1:03 pm

      This is much closer to the truth of it. Business says “Give us certainty”
      What they mean is ……………………………………………….. “Give us OUR rules”

  8. SPC 8
    20 September 2018 at 5:10 pm

    So the bumper revenue flows indicated by the Crown accounts were a hint that the GDP figure for the quarter would be up there … who knew (anyone who had expert economic advice)

    Puts a few morons in the blog world and media in their place …

  9. Coolas 9
    20 September 2018 at 5:19 pm

    Nobody mentioned John Key yet?

    As ANZ Chairman he must have influence over tone and we know he was apt at confusing content

    • Muttonbird 9.1
      20 September 2018 at 6:07 pm

      I can see him and Max firing up the iPad changing all the survey results.

      • greywarshark 9.1.1
        20 September 2018 at 10:27 pm

        Referring to Keys happy place at the bank.
        This from a Bryan Gould piece put up in Open Mike 20/9 by savenz at 13:

        confirmed by detailed studies produced by the Bank of England and other central banks – that around 97% of our money has been created, not by the government, but by the commercial banks, which create the money by simply making a bank entry in the accounts of those to whom they lend money, usually on mortgage.

        Quotes: What a piece of work is man, How noble his reason.
        and
        Nice work if you can get it, and if you get it, won’t you tell me how.

  10. Bearded Git 10
    20 September 2018 at 6:50 pm

    looks like a rockstar economy to me…well done Jacinda….ooops that doesn’t fit the zeitgeist

  11. Brian Tregaskin 11
    20 September 2018 at 7:10 pm

    Expect a winter of discontent from Business right to the next election.

  12. Observer Tokoroa 12
    21 September 2018 at 2:47 am

    The Anz ,,, has a lot on its mind …

    Isn’t that the bank you go along to, to play with little pigtails ?

    .

  13. Antoine 13
    21 September 2018 at 10:17 am

    It’s entirEly reasonable that business confidence could be low despite a quarter of good GDP growth. Labour’s policies that woUld most affect business are still to come.

    A.

    • Dukeofurl 13.1
      21 September 2018 at 2:22 pm

      What would they be … surely you know these things since…. to not like something you have to know what it is.

      • Antoine 13.1.1
        22 September 2018 at 10:34 am

        I didn’t say I disliked anything. I am talking about the views of the people who were polled to determine business confidence. I don’t own a business and have not participated in such a poll.

        A.

  14. Observer Tokoroa 14
    21 September 2018 at 2:30 pm

    Desperado Antoine

    You seem to be in distress you poor creature. Having labelled yourself by your name as the top goat in the French hierarchy and predicted the destruction of NZ Productivity – you are now dribliing like a dog Antoine.

    Let me assure you, no matter what happens in NZ, you and your friends (key, english, collins, bennett and adams) will be able to take any amount of wealth you like from the honest people of New Zealand. You are Capitalists.

    You spend your miserable lives stealing from the Workers and the poor. And you shunt them into Homelessness.

    The Guillotine is only a Jet flight away. Don’t forget it Desperado.

    • Antoine 14.1
      22 September 2018 at 10:33 am

      > you are now dribliing like a dog Antoine.

      Actually, I thought my comment was short, lucid and to the point, while you appear to be gibbering.

      A.

      • Tricledrown 14.1.1
        23 September 2018 at 11:10 am

        Antione ANZ is in serious trouble across the ditch and could be here.
        The big banks make massive profits out of spiralling House and land prices.
        Looking at the Aussie banking enquiry
        Shows the behaviour the major 4 banks + AMP have been up to.
        These financial monopolies need an enquiry on this side of the Tasman.

  15. Tricledrown 15
    23 September 2018 at 12:34 pm

    Antione because you live in a Silo.
    I could mention the consumer confidence survey which shows gloom despite a 4% growth in sales facts vs rumours.

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  • GRAHAM ADAMS: Will the racists please stand up?
    Accusations of racism by journalists and MPs are being called out. Graham Adams writes –    With the election less than three weeks away, what co-governance means in practice — including in water management, education, planning law and local government — remains largely obscure. Which is hardly ...
    Point of OrderBy poonzteam5443
    6 days ago

  • Gordon Campbell on whether Winston Peters can be a moderating influence
    As the centre-right has (finally!) been subjected to media interrogation, the polls are indicating that some voters may be starting to have second thoughts about the wisdom of giving National and ACT the power to govern alone. That’s why yesterday’s Newshub/Reid Research poll had the National/ACT combo dropping to 60 ...
    Gordon CampbellBy lyndon
    6 days ago

  • Tuesday’s Chorus: RBNZ set to rain on National's victory parade
    ANZ has increased its forecast for house inflation later this year on signs of growing momentum in the market ahead of the election. Photo: Lynn Grieveson / The KākāTL;DR: National has campaigned against the Labour Government’s record on inflation and mortgage rates, but there’s now a growing chance the Reserve ...
    The KakaBy Bernard Hickey
    6 days ago

  • After a Pittsburgh coal processing plant closed, ER visits plummeted
    This is a re-post from Yale Climate Connections by Katie Myers. This story was originally published by Grist and is part of Covering Climate Now, a global journalism collaboration strengthening coverage of the climate story. Pittsburgh, in its founding, was blessed and cursed with two abundant natural resources: free-flowing rivers and a nearby coal seam. ...
    Skeptical Science
    6 days ago

  • September-23 AT Board Meeting
    Today the AT board meet again and once again I’ve taken a look at what’s on the agenda to find the most interesting items. Closed Agenda Interestingly when I first looked at the agendas this paper was there but at the time of writing this post it had been ...
    Greater AucklandBy Matt L
    6 days ago

  • Electorate Watch: West Coast-Tasman
    Continuing my series on interesting electorates, today it’s West Coast-Tasman.A long thin electorate running down the northern half of the west coast of the South Island. Think sand flies, beautiful landscapes, lots of rain, Pike River, alternative lifestylers, whitebaiting, and the spiritual home of the Labour Party. A brief word ...
    Nick’s KōreroBy Nick Rockel
    6 days ago

  • Big money brings Winston back
    National leader Christopher Luxon yesterday morning conceded it and last night’s Newshub poll confirmed it; Winston Peters and NZ First are not only back but highly likely to be part of the next government. It is a remarkable comeback for a party that was tossed out of Parliament in ...
    PolitikBy Richard Harman
    6 days ago

  • 20 days until Election Day, 7 until early voting begins… but what changes will we really see here?
    As this blogger, alongside many others, has already posited in another forum: we all know the National Party’s “budget” (meaning this concept of even adding up numbers properly is doing a lot of heavy, heavy lifting right now) is utter and complete bunk (read hung, drawn and quartered and ...
    exhALANtBy exhalantblog
    7 days ago

  • A night out
    Everyone was asking, Are you nervous? and my response was various forms of God, yes.I've written more speeches than I can count; not much surprises me when the speaker gets to their feet and the room goes quiet.But a play? Never.YOU CAME! THANK YOU! Read more ...
    More Than A FeildingBy David Slack
    7 days ago

  • A pallid shade of Green III
    Clearly Labour's focus groups are telling it that it needs to pay more attention to climate change - because hot on the heels of their weaksauce energy efficiency pilot programme and not-great-but-better-than-nothing solar grants, they've released a full climate manifesto. Unfortunately, the core policies in it - a second Emissions ...
    No Right TurnBy Idiot/Savant
    7 days ago

  • A coalition of racism, cruelty, and chaos
    Today's big political news is that after months of wibbling, National's Chris Luxon has finally confirmed that he is willing to work with Winston Peters to become Prime Minister. Which is expected, but I guess it tells us something about which way the polls are going. Which raises the question: ...
    No Right TurnBy Idiot/Savant
    7 days ago

  • More migrant workers should help generate the tax income needed to provide benefits for job seekers
    Buzz from the Beehive Under something described as a “rebalance” of its immigration rules, the Government has adopted four of five recommendations made in an independent review released in July, The fifth, which called on the government to specify criteria for out-of-hours compliance visits similar to those used during ...
    Point of OrderBy Bob Edlin
    7 days ago

  • Letter To Luxon.
    Some of you might know Gerard Otto (G), and his G News platform. This morning he wrote a letter to Christopher Luxon which I particularly enjoyed, and with his agreement I’m sharing it with you in this guest newsletter.If you’d like to make a contribution to support Gerard’s work you ...
    Nick’s KōreroBy Nick Rockel
    7 days ago

  • LINDSAY MITCHELL: Alarming trend in benefit numbers
    Lindsay Mitchell writes –  While there will not be another quarterly release of benefit numbers prior to the election, limited weekly reporting continues and is showing an alarming trend. Because there is a seasonal component to benefit number fluctuations it is crucial to compare like with like. In ...
    Point of OrderBy poonzteam5443
    1 week ago

  • BRIAN EASTON: Has there been external structural change?
    A close analysis of the Treasury assessment of the Medium Term in its PREFU 2023 suggests the economy may be entering a new phase.   Brian Easton writes –  Last week I explained that the forecasts in the just published Treasury Pre-election Economic and Fiscal Update (PREFU 2023) was ...
    Point of OrderBy poonzteam5443
    1 week ago

  • 100 new public EV chargers to be added to national network
    The public EV charging network has received a significant boost with government co-funding announced today for over 100 EV chargers – with over 200 charging ports altogether – across New Zealand, and many planned to be up and running on key holiday routes by Christmas this year. Minister of Energy ...
    BeehiveBy beehive.govt.nz
    18 hours ago

  • Safeguarding Tuvalu language and identity
    Tuvalu is in the spotlight this week as communities across New Zealand celebrate Vaiaso o te Gagana Tuvalu – Tuvalu Language Week. “The Government has a proven record of supporting Pacific communities and ensuring more of our languages are spoken, heard and celebrated,” Pacific Peoples Minister Barbara Edmonds said. “Many ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • New community-level energy projects to support more than 800 Māori households
    Seven more innovative community-scale energy projects will receive government funding through the Māori and Public Housing Renewable Energy Fund to bring more affordable, locally generated clean energy to more than 800 Māori households, Energy and Resources Minister Dr Megan Woods says. “We’ve already funded 42 small-scale clean energy projects that ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Huge boost to Te Tai Tokerau flood resilience
    The Government has approved new funding that will boost resilience and greatly reduce the risk of major flood damage across Te Tai Tokerau. Significant weather events this year caused severe flooding and damage across the region. The $8.9m will be used to provide some of the smaller communities and maraes ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • Napier’s largest public housing development comes with solar
    The largest public housing development in Napier for many years has been recently completed and has the added benefit of innovative solar technology, thanks to Government programmes, says Housing Minister Dr Megan Woods. The 24 warm, dry homes are in Seddon Crescent, Marewa and Megan Woods says the whanau living ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Te Whānau a Apanui and the Crown initial Deed of Settlement I Kua waitohua e Te Whānau a Apanui me...
    Māori: Kua waitohua e Te Whānau a Apanui me te Karauna te Whakaaetanga Whakataunga Kua waitohua e Te Whānau a Apanui me te Karauna i tētahi Whakaaetanga Whakataunga hei whakamihi i ō rātou tāhuhu kerēme Tiriti o Waitangi. E tekau mā rua ngā hapū o roto mai o Te Whānau ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Plan for 3,000 more public homes by 2025 – regions set to benefit
    Regions around the country will get significant boosts of public housing in the next two years, as outlined in the latest public housing plan update, released by the Housing Minister, Dr Megan Woods. “We’re delivering the most public homes each year since the Nash government of the 1950s with one ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Immigration settings updates
    Judicial warrant process for out-of-hours compliance visits 2023/24 Recognised Seasonal Employer cap increased by 500 Additional roles for Construction and Infrastructure Sector Agreement More roles added to Green List Three-month extension for onshore Recovery Visa holders The Government has confirmed a number of updates to immigration settings as part of ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Poroporoaki: Tā Patrick (Patu) Wahanga Hohepa
    Tangi ngunguru ana ngā tai ki te wahapū o Hokianga Whakapau Karakia. Tārehu ana ngā pae maunga ki Te Puna o te Ao Marama. Korihi tangi ana ngā manu, kua hinga he kauri nui ki te Wao Nui o Tāne. He Toa. He Pou. He Ahorangi. E papaki tū ana ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Renewable energy fund to support community resilience
    40 solar energy systems on community buildings in regions affected by Cyclone Gabrielle and other severe weather events Virtual capability-building hub to support community organisations get projects off the ground Boost for community-level renewable energy projects across the country At least 40 community buildings used to support the emergency response ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • COVID-19 funding returned to Government
    The lifting of COVID-19 isolation and mask mandates in August has resulted in a return of almost $50m in savings and recovered contingencies, Minister of Health Dr Ayesha Verrall announced today. Following the revocation of mandates and isolation, specialised COVID-19 telehealth and alternative isolation accommodation are among the operational elements ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Appointment of District Court Judge
    Susie Houghton of Auckland has been appointed as a new District Court Judge, to serve on the Family Court, Attorney-General David Parker said today.  Judge Houghton has acted as a lawyer for child for more than 20 years. She has acted on matters relating to the Hague Convention, an international ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government invests further in Central Hawke’s Bay resilience
    The Government has today confirmed $2.5 million to fund a replace and upgrade a stopbank to protect the Waipawa Drinking Water Treatment Plant. “As a result of Cyclone Gabrielle, the original stopbank protecting the Waipawa Drinking Water Treatment Plant was destroyed. The plant was operational within 6 weeks of the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Govt boost for Hawke’s Bay cyclone waste clean-up
    Another $2.1 million to boost capacity to deal with waste left in Cyclone Gabrielle’s wake. Funds for Hastings District Council, Phoenix Contracting and Hog Fuel NZ to increase local waste-processing infrastructure. The Government is beefing up Hawke’s Bay’s Cyclone Gabrielle clean-up capacity with more support dealing with the massive amount ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Taupō Supercars revs up with Government support
    The future of Supercars events in New Zealand has been secured with new Government support. The Government is getting engines started through the Major Events Fund, a special fund to support high profile events in New Zealand that provide long-term economic, social and cultural benefits. “The Repco Supercars Championship is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • There is no recession in NZ, economy grows nearly 1 percent in June quarter
    The economy has turned a corner with confirmation today New Zealand never was in recession and stronger than expected growth in the June quarter, Finance Minister Grant Robertson said. “The New Zealand economy is doing better than expected,” Grant Robertson said. “It’s continuing to grow, with the latest figures showing ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Highest legal protection for New Zealand’s largest freshwater springs
    The Government has accepted the Environment Court’s recommendation to give special legal protection to New Zealand’s largest freshwater springs, Te Waikoropupū Springs (also known as Pupū Springs), Environment Minister David Parker announced today.   “Te Waikoropupū Springs, near Takaka in Golden Bay, have the second clearest water in New Zealand after ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • More support for victims of migrant exploitation
    Temporary package of funding for accommodation and essential living support for victims of migrant exploitation Exploited migrant workers able to apply for a further Migrant Exploitation Protection Visa (MEPV), giving people more time to find a job Free job search assistance to get people back into work Use of 90-day ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Strong export boost as NZ economy turns corner
    An export boost is supporting New Zealand’s economy to grow, adding to signs that the economy has turned a corner and is on a stronger footing as we rebuild from Cyclone Gabrielle and lock in the benefits of multiple new trade deals, Finance Minister Grant Robertson says. “The economy is ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Funding approved for flood resilience work in Te Karaka
    The Government has approved $15 million to raise about 200 homes at risk of future flooding. More than half of this is expected to be spent in the Tairāwhiti settlement of Te Karaka, lifting about 100 homes there. “Te Karaka was badly hit during Cyclone Gabrielle when the Waipāoa River ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Further business support for cyclone-affected regions
    The Government is helping businesses recover from Cyclone Gabrielle and attract more people back into their regions. “Cyclone Gabrielle has caused considerable damage across North Island regions with impacts continuing to be felt by businesses and communities,” Economic Development Minister Barbara Edmonds said. “Building on our earlier business support, this ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New maintenance facility at Burnham Military Camp underway
    Defence Minister Andrew Little has turned the first sod to start construction of a new Maintenance Support Facility (MSF) at Burnham Military Camp today. “This new state-of-art facility replaces Second World War-era buildings and will enable our Defence Force to better maintain and repair equipment,” Andrew Little said. “This Government ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Foreign Minister to attend United Nations General Assembly
    Foreign Minister Nanaia Mahuta will represent New Zealand at the 78th Session of the United Nations General Assembly (UNGA) in New York this week, before visiting Washington DC for further Pacific focussed meetings. Nanaia Mahuta will be in New York from Wednesday 20 September, and will participate in UNGA leaders ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • Midwives’ pay equity offer reached
    Around 1,700 Te Whatu Ora employed midwives and maternity care assistants will soon vote on a proposed pay equity settlement agreed by Te Whatu Ora, the Midwifery Employee Representation and Advisory Service (MERAS) and New Zealand Nurses Association (NZNO), Minister of Health Dr Ayesha Verrall announced today. “Addressing historical pay ...
    BeehiveBy beehive.govt.nz
    2 weeks ago

  • New Zealand provides support to Morocco
    Aotearoa New Zealand will provide humanitarian support to those affected by last week’s earthquake in Morocco, Foreign Minister Nanaia Mahuta announced today. “We are making a contribution of $1 million to the International Federation of Red Cross and Red Crescent Societies (IFRC) to help meet humanitarian needs,” Nanaia Mahuta said. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in West Coast’s roading resilience
    The Government is investing over $22 million across 18 projects to improve the resilience of roads in the West Coast that have been affected by recent extreme weather, Prime Minister Chris Hipkins confirmed today.  A dedicated Transport Resilience Fund has been established for early preventative works to protect the state ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Government invests in Greymouth’s future
    The Government has today confirmed a $2 million grant towards the regeneration of Greymouth’s CBD with construction of a new two-level commercial and public facility. “It will include a visitor facility centred around a new library. Additionally, it will include retail outlets on the ground floor, and both outdoor and ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • Nanaia Mahuta to attend PIF Foreign Ministers’ Meeting
    Foreign Minister Nanaia Mahuta will attend the Pacific Islands Forum (PIF) Foreign Ministers’ Meeting, in Suva, Fiji alongside New Zealand’s regional counterparts. “Aotearoa New Zealand is deeply committed to working with our pacific whanau to strengthen our cooperation, and share ways to combat the challenges facing the Blue Pacific Continent,” ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • PREFU shows no recession, growing economy, more jobs and wages ahead of inflation
    Economy to grow 2.6 percent on average over forecast period Treasury not forecasting a recession Inflation to return to the 1-3 percent target band next year Wages set to grow 4.8 percent a year over forecast period Unemployment to peak below the long-term average Fiscal Rules met - Net debt ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

  • New cancer centre opens in Christchurch
    Prime Minister Chris Hipkins and Minister of Health Dr Ayesha Verrall proudly opened the Canterbury Cancer Centre in Christchurch today. The new facility is the first of its kind and was built with $6.5 million of funding from the Government’s Infrastructure Reference Group scheme for shovel-ready projects allocated in 2020. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago

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