New Zealand Posts NZ$33 Million Trade Surplus In March
New Zealand had a merchandise trade surplus of NZ$33 million in March, Statistics New Zealand said on Thursday.
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“Even taking the maximum hours recorded, they’re being paid $120 per hour,” he said. “From the point of view of our ratepayers. we have to be sure we’re getting good value for money at every point.” According to Statistics New Zealand, in the year to the December 2020 quarter, average hourly earnings increased 4.2 percent to $34.14. Duynhoven said the council did need to go with the salary increases “but keep an eye on it”. Councillor Colin Johnston said the pay should be left as is. “It s not an overload of work,” he said. “Their workload has probably decreased if anything.” The council’s finances boss, Joy Buckingham, told the councillors that they had had an external party give recommendations on what to pay the board members, taking into account other boards on other organisations.
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GDP showed biggest ever drop in June quarter, shrinking 12.2%.
Economic activity shrunk by a record 12.2% in the three months to the end of June, although that is less than the 16% drop the Treasury forecast in the Pre-election Economic and Fiscal Update yesterday.
But it is still a much bigger drop than the 7% decline experienced in Australia for the same quarter.
Coming after a 1.6% decline in economic activity in the March quarter, the latest number from Statistics New Zealand confirmed the country is officially in a recession.
It is the largest quarterly fall in GDP since the current series began in 1987.