NZ | Economy Thread

[SYDNEY]

It's Official: Brits Love NZ

Brits have given another thumbs up to New Zealand by voting it the world's 'dream destination' at the 2006 British Travel Awards in London. Nearly 100,000 people voted in the dream destination category, which was introduced for the first time this year and featured nine other nominees - Barbados, Brazil, Dubai, Fiji, Hawaii, the Maldives, the Seychelles, South Africa and Australia.

Tourism New Zealand chief executive George Hickton said the award was pleasing on the back of a campaign tailored to the British market, which encourages people to "Come Now. If Not Sooner". This year New Zealand has already been voted the 'coolest destination' and 'favourite long haul destination' in other British travel awards.

[shrewd.user]

good on ya NZ

[SYDNEY]

Data suggests economy is bouncing back

Friday November 17, 2006

Manufacturing bounced back strongly in October according to a survey released yesterday - the fourth piece of economic data this week pointing to an economy on the rebound. "Things seem to be coming together for a good end to the year," said Deutsche Bank chief economist Darren Gibbs. "Consumer confidence has been improving very, very sharply, as has business confidence, the currency is off its highs - although it's still relatively high - and people have become very comfortable with the current level of interest rates." Also, petrol prices are well below their high around the middle of the year.

Yesterday's Performance of Manufacturing Index stood at a four-month high of 56.4, up from 51.0 in September. A reading above 50 points indicates manufacturing is generally expanding, while below 50 indicates it is contracting. Business New Zealand, which commissions the monthly survey, said it "showed a healthy level of [manufacturing] activity approaching Christmas, despite the increasing value of the New Zealand dollar and a downturn in numbers employed in the sector". The survey comes on the same day as Real Estate Institute figures showing houses sold more quickly in October than September - 29 days compared to 31 - and the median house price rose 3.5 per cent to $324,000.

ANZ bank said the data would concern the Reserve Bank, but was unlikely to prompt Governor Alan Bollard to raise interest rates next month. "This could be the early signs of a re-acceleration in housing market activity," ANZ said. "The material slowdown in the housing market the Reserve Bank wants to see is a long way off." The data follows strong retail sales and producer prices data earlier in the week. Adjusted for inflation, retail sales rose 1 per cent in the September quarter, bouncing back from a 0.4 per cent decline the previous quarter, thanks to lower petrol prices giving consumers more cash to spend. Also, producer input prices - costs to businesses - rose more quickly than expected.

Deutsche Bank's Gibbs pondered whether the data represented a temporary blip or the start of a new upswing. That the full impact of the Reserve Bank's interest rate hikes over the past couple of years had not yet been felt because of fixed-rate mortgages suggested a blip, said Gibbs. "On the other hand, the fall in petrol prices has put a lot of money into people's pockets," he said. "That's a one-off. It won't happen every month. What you might find is that the economy does bounce back a bit and then the gains slow."

[SYDNEY]

Confidence Hits Two-Year High

28/11/2006
Business confidence hit a two-year high in November having steadily improved in the last year, with optimism increasing in all sectors except agriculture, according to the latest National Bank of New Zealand monthly outlook. A net 14 percent of respondents to the survey said they expect business conditions to worsen over the coming year, bettering the net 22 percent negative response in the previous survey.

The construction sector was the most confident at a four-year high, with a net 10 percent expecting better conditions, National Bank chief economist Cameron Bagrie said. Companies' own expectations, considered a closer reading on the domestic economy, rose six percentage points to a two-year high of net 24 percent expecting conditions to improve -- indicative of 2.5 percent growth over the next year, he said.

GDP growth was 1.9 percent for the year ended June, the lowest in five years, and economists polled by Reuters earlier this month tipped growth of 1.8 percent in 2007. "A plethora of good news appears to have perked up confidence," Mr Bagrie said. "The retail sector is humming courtesy of lower petrol prices putting discretionary income back into people's pockets. While the unemployment rate nudged back up in the September quarter, at 3.8 percent it remains exceptionally low, and job vacancies remain plentiful."

Nudging lower were pricing intentions, down 2.6 points to 23.1 percent expecting to raise prices, and inflation expectations, falling to a rate of 3.31 percent from 3.38 percent. Annual inflation was 3.5 percent in the September quarter, above the Reserve Bank's target band of 1-to-3 percent. The main blot on the economy remained poor productivity, Mr Bagrie said, with employment growth outstripping economic growth for over a year. A net 6.1 percent of companies expected to increase staff numbers, little changed from 6.3 percent in the previous survey. "Strong productivity performance remains the missing ingredient for inflation to trend lower at a time capacity pressures are intense and the economy is showing signs of strengthening," he said.

[Kane007]

Welcome back Enigma from your self imposed sabbatical.

[SYDNEY]

Originally Posted by Kane007

Welcome back Enigma from your self imposed sabbatical.

LOL - I am still FUMING !! and saturday morning at The Supper Club didn't help my mood either ..... this guy came over to me on the dance floor and said that I had better stop looking at his girlfriend so I told him that I was GAY !! .... his reply was that if I don't stop looking at her he will beat me up .... what part of gay did he not understand ... the funny thing is that even if I was straight, I wouldn't touch his girlfriend with somebody else's hands, she is soooooo ugly

I am too sensitive, I am still upset by the whole experience - too hell with sr8 clubs now, I will stick to the more civil, gay clubs.

[Kane007]

That guy, sounds like an uneducated westy! In that case the correct classification for his girlfriend would have been - BUSHPIG!.

Technically a description evolved out of Avondale College in the early 1980's.

[dubious]

Originally Posted by ENIGMA

LOL - I am still FUMING !! and saturday morning at The Supper Club didn't help my mood either ..... this guy came over to me on the dance floor and said that I had better stop looking at his girlfriend so I told him that I was GAY !! .... his reply was that if I don't stop looking at her he will beat me up .... what part of gay did he not understand ... the funny thing is that even if I was straight, I wouldn't touch his girlfriend with somebody else's hands, she is soooooo ugly

I am too sensitive, I am still upset by the whole experience - too hell with sr8 clubs now, I will stick to the more civil, gay clubs.

You poor thing lol!

I'm not the greatest fan of Supper Club. There's too many strange characters, not helped by the fact you're forced to cram up next to them!

[SYDNEY]

Originally Posted by Kane007

That guy, sounds like an uneducated westy! In that case the correct classification for his girlfriend would have been - BUSHPIG!.

Technically a description evolved out of Avondale College in the early 1980's.

LOL - you summed it up in one word

[SYDNEY]

Originally Posted by dubious

You poor thing lol!

I'm not the greatest fan of Supper Club. There's too many strange characters, not helped by the fact you're forced to cram up next to them!

It is a shame because I have met many great people there - what am I going to do with myself from the 6 am until 2pm ??? Go home and keep myself busy there

[Kane007]

Most definitely a fan of one liners and one worders!

Mr Palmer and his 5 sons could keep you company.

[SYDNEY]

Originally Posted by Kane007

Most definitely a fan of one liners and one worders!

Mr Palmer and his 5 sons could keep you company.

LOL - the bf is there for that - he is so happy that I had that shitty experience at Supper Club - now I have no excuse but to cum home with him ..... ooooooooh la la .... best he eat all his cereal every morning, he will need the energy

[SYDNEY]

NZ voted second best destination

Dec 5, 2006

New Zealand has been voted the second best travel destination in the world by Lonely Planet readers. The travel guide has released its Bluelist for 2007 which sees Australia the favourite destination, and New Zealand the second as voted by travellers worldwide. The list comes out annually and reveals the best destinations, experiences and travel trends for the year ahead. Co-founder Tony Wheeler says it is not at all surprising New Zealand has been voted the world's second best travel destination. He says the outdoors nature of the country always attracts rave reviews from travellers, who are able to ski, go white water rafting, and go on walks. But, Wheeler says people also like the friendliness of the locals and the fabulous scenery.

The Bluelist also names what it calls 'Cities on the Rise.' In the 2007 edition Wellington has made an appearance as one of those cities alongside Belfast, Belgrade and Perth. The capital's weather gets a passing mention, but the emphasis is on arts, culture, music and the restaurant scene. It says Wellington is gaining in reputation as a place to be in the southern hemisphere. Lonely Planet says youthful energy abounds with hip hop dance-offs, plenty of live music and cafes, fashionable bars and bookshops. Wellington is described as more beautiful than Seattle or Melbourne.

[Kane007]

Kiwis show turnaround in attitude to economy
NZ Herald
2006/12/05

Nearly four out of every 10 New Zealanders think the economy will improve in the next year, according to the latest Herald-DigiPoll survey.

Asked whether the economy would do better or worse over the next 12 months, 39.8 per cent said it would improve and 23 per cent felt it would perform "about the same".

Of those surveyed, 26 per cent said it would do worse and 11.2 per cent did not know.

This is a change from the last survey, in August, when 29.9 per cent felt the economy would improve over the next year and 33.3 per cent told the pollsters it would do worse.

Despite the confident outlook, a narrow majority disagreed with the Government's policies.

The sample split 47.7 per cent "no" and 43.9 per cent "yes" when asked if the Government was headed in the right direction.

This is a slight change from August when the split was 44.3 per cent "no" and 46.3 per cent "yes".

About one third of respondents felt the economy was doing better than a year ago, against 28.9 per cent who said it was worse, and 27.9 per cent who said it was "about the same".

[Neitzsche]

Rather surprising:


World Bank says tax burden on NZ businesses 'minimal'

12.40pm Tuesday December 5, 2006

A World Bank study has ranked New Zealand 10th out of 175 economies for ease in paying taxes.

Finance Minister Michael Cullen said the Paying Taxes: The Global Picture study found New Zealand was one of the easiest economies in the world for businesses to pay taxes.

The World Bank-PricewaterhouseCoopers study ranked Australia at 35th.

Dr Cullen said the result showed government progress in improving the competitiveness of business.

The study ranked New Zealand at eighth for the least time spent complying with tax requirements at 70 hours per year. Australian businesses spending an average for 107 hours a year complying.

Dr Cullen said if tax havens and oil producers that did not need to tax to finance spending were excluded New Zealand's ranking would rise to fifth in the world.

New Zealand had made changes such as aligning GST and provisional tax dates and more would be done once the Business Tax Review was finalised.

"It is important we continue our efforts as the World Bank study found that when the tax system is less onerous we get better infrastructure and education systems, higher investment and lower avoidance activity."

[aucklandman]

good on ya mate

[Kane007]

To go hand in hand with Transparency Internationals corruption index back in October, Gallup Worldwide Corruption Index, released in Washington yesterday places NZ 2nd equal with a score of 21 - with Denmark but behind Finland (12).

Stupid reporters at the NZ Herald saying were 3rd. Idiot just needs to visit the Gallup poll website and read it properly!

I digress - the naughty Australians are well back in 9th, behind Saudi Arabia. This could be a reflection of their convict past or a premonition of their next Rugby World Cup placing in France!

UK 6th
USA 19th equal with Tanzania

Were is that banana republic, Fiji. Good god its off the scale, could explain the current crap going on???

[SYDNEY]

^ LOL ....

South Africa 43rd - not bad, I expected them to be waaaaay lower.

[SYDNEY]

NZ population grows 7.8%

Dec 6, 2006

New Zealand's population has grown faster in the past five years than in any other census period in the last 30 years.Just released 2006 census results show New Zealand's population increased by 7.8% in the five years to 2006 to 4,027,947 people, compared with a 3.3% rise between 1996 and 2001. Statistics New Zealand says in the general population there is further evidence of a "man drought" with there being around 97,000 more women than men.

All regional council areas showed population growth or had steady populations between 2001 and 2006, except for Southland which had a marginal decline. This contrasts with the previous five years when six regional council areas showed population decline. The biggest increases between 2001and 2006 were in Auckland, up 12.4% and Canterbury which rose 8.4%.The Asian ethnic group had the biggest growth since 2001, up 48.9 % to reach 354,552. The Asian ethnic group now represents 9.2% of those who stated their ethnicity.

Other significant changes in New Zealand's ethnic make-up included a 7.4% growth for Maori since 2001 to reach 565,329, and Pacific peoples, up 14.7% to 265,974. "New Zealander" is published as a separate category for the first time, after previously being counted in the European category. This ethnic group totalled 429,429 (11.1%) in 2006. European remains the largest of the major ethnic groups, totalling 2,609,592 (67.6%) in 2006. Internet availability in households nearly doubled between 2001 and 2006 from 37.4% to 60.5%. This census was the first to ask about the availability of cellphones in households and shows 74.2% of households had access to cellphones.

[IHaveNoLegs]

i wonder how many of those 565,329 maori are over half maori, i suspect none