• Businesses and households are
anticipating better days ahead amidst green shoots shining
in the economy.
• Closed international borders and
surging government debt continue to remain a subject of
concern.
With pandemic turning the world upside down,
the NZ economy endured its first recession since the Global
Financial Crisis in 2020. While the COVID-induced recession
initially derailed the nation’s economic recovery, Kiwi
Land has managed to rebound sharply from its biggest
economic slump.
Consequently, the NZ economy is all
set to make an entry into 2021 on a strong
footing.
The Kiwi government recently released
‘half-year fiscal and economic update’ for 2020,
suggesting that the economic and fiscal impact of the
Press Release – Kalkine Summary NZ economy has quickly revived to pre-coronavirus levels, achieving a V-shaped recovery. Businesses and households are anticipating better days ahead amidst green shoots shining in the economy. Closed international borders and …
Summary
• Businesses and households are anticipating better days ahead amidst green shoots shining in the economy.
• Closed international borders and surging government debt continue to remain a subject of concern.
With pandemic turning the world upside down, the NZ economy endured its first recession since the Global Financial Crisis in 2020. While the COVID-induced recession initially derailed the nation’s economic recovery, Kiwi Land has managed to rebound sharply from its biggest economic slump.
Zoe Hunter: Why this year will go down in history
21 Dec, 2020 08:00 PM
3 minutes to read
Many economists predicted things would go south post-Covid-19 lockdown. The housing market was not supposed to bounce back the way it has and business confidence was meant to crash, with some sectors expected to hit rock bottom.
But this doesn t seem to be the case. Kiwis have pulled through, especially here in the Bay of Plenty as people really took to heart the meaning of going local.
Despite pre-Covid predictions, the country s property market has gone absolutely berserk.
Property in the Bay of Plenty is selling at a record-low median of 30 days, with the region s annual sales volumes during November at the highest they ve been since 2016.
Regional economies: Agriculture strong, tourism struggling
21 Dec, 2020 07:30 PM
3 minutes to read
Regions with large agricultural bases have surging regional economies while those which relied heavily on tourism were struggling.
The latest quarterly figures from Westpac McDermott Miller showed that Gisborne/Hawkes Bay have recorded a huge bounce in confidence, followed by Nelson-Marlborough-West Coast and Taranaki/Manawatū-Whanganui.
It showed the optimists now outweighed the pessimists in most regions, except in Northland, Otago and Southland - although the news was not entirely grim for the southern regions which had been hard-hit by the Covid-19 linked downturn.
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Senior agri economist Nathan Penny said the bounce in confidence for most regions was a reflection of the general rebound in the economy, helped by news of positive vaccine developments overseas.
The report noted there was also a lack of clarity about who was in charge of implementing and monitoring the testing regimes.
In a letter to the minister by the committee co-chairs it said that the current model is improving, but it’s is not fit for purpose over a longer time period.
“We don’t have a status quo model which is well understood and could serve effectively for the next 24 to 36 months,” it said.
In this case, it was accentuated because there was (and still is) the stupid idea that ‘
this will all be over soon‘. Yeah right… Clearly the people in our population need more education about the historical process and progress of pandemics and epidemics. Perhaps the journalists could do some actual research and stop writing some of the complete crap that I keep reading from their opinions? This is going to take years to deal with. If we’re lucky…