NZ Economy  to Grow 2.9%
World Economy

NZ Economy to Grow 2.9%

An independent economic think-tank has revised up expectation of growth of New Zealand on the back of a stronger outlook for household spending while expectations of inflation and wage growth remain modest, Xinhua reported. The Consensus Forecasts from the New Zealand Institute of Economic Research on Monday indicated expectations of robust economic growth through to 2019, with annual average growth expected to pick up to 2.9% in 2018, before moderating to 2.6% in 2019. However, there was a large degree of uncertainty over the growth outlook beyond 2016, with annual average growth forecasts for the March 2019 year range from 1.6% to 3.2%, said the NZIER report. “The stronger housing market, phenomenal population growth and lower interest rates have encouraged households to spend,” said the report. “Forecasters expect household spending growth will be even stronger over the next few years. Expectations of stronger household spending would also boost imports, while expectations of export growth beyond next year had been revised down on the basis of a weaker global outlook.


Short URL : http://goo.gl/0Favtu
  1. http://goo.gl/uHGXV7
  • http://goo.gl/BZAC7v
  • http://goo.gl/tS5HHx
  • http://goo.gl/E17VfQ
  • http://goo.gl/70L9pI

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...