World Economy

UN Upbeat on NZ Growth

UN Upbeat on NZ GrowthUN Upbeat on NZ Growth

The United Nations is upbeat over the New Zealand economy with net migration and tourism sector continuing to support the economy. The UN’s Economic and Social Commission for Asia and the Pacific in its latest regional survey, released on Monday, says construction activity will be boosted by reconstruction efforts following the Kaikoura earthquake last November, NZN reported. Low inflation and financing costs would boost private consumption, despite some constraint from rising prices for housing and high household debt. The UN report raised concerns over any further rapid increases in housing prices, leading to “capacity constraints in the construction sector where skilled workers are already in shortage”.


Add new comment

Read our comment policy before posting your viewpoints