Tag: Global economy

NZ Dodges Recession with Strong Economic Growth

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The New Zealand economy grew by 1.7% during the June quarter, confirming that the country has managed to defy the odds and not go into a recession. This has been a positive result following a poor showing in the March quarter that saw the economy decline by 0.2%. Financial experts…

Tax Break for Long-Term Rental Investors

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Housing minister, Megan Woods, has announced a change in rental housing policy that will allow landlords to enjoy tax breaks if they meet a certain criterion designed to promote access to affordable long-term rentals for kiwis. Landlords that own 20-plus units in one development and that offer tenancy agreements of…

NZ Government Announces Temporary Fuel Tax Cuts

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While much of the world contends with rising fuel prices spurred by the ongoing invasion of Ukraine by Russia, Kiwis can sigh with relief following the announcement by PM Jacinda Ardern that petrol excise duty will be cut alongside road user charges. She said that the global energy crisis was…

Westpac NZ Records $1.01B Profit as Its Share Value Tanks

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November 1 was a mixed bag of results for Westpac that announced it had made an annual profit of $1.01 billion over the last year ending in September 2021. This profit was a 56% increase on that of the previous year, a margin higher than the 39% increase recorded by…

NZ Housing Market’s Hot Streak Continues Despite Recession Fears

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Despite the dampening effect the pandemic has had on the global and local economy, the housing sector has managed to thrive. Even with the country likely to dip into another recession in 2021, NZ is experiencing the highest housing boom in 20 years with a record share of properties being…

Economy Expected to Perform Relatively Strongly in the Wake of COVID-19

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According to S&P Global, New Zealand is expected to recover from the economic strains of COVID-19 in a better position than most countries in the Asia-Pacific region and around the world. Due to New Zealand’s exceptional pandemic management and well-targeted economic stimulus, the global recession is expected to cause less…

New Zealand’s Slowing Economy Inspires Varying Theories – and Plenty of Blame

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New Zealand’s economy continues to lose momentum this year, experiencing its lowest annual growth rate since 2013. This dip has been accompanied by an increase in negativity across the news media, with businesses and consumers alike questioning international trade tensions, global economic health, and Brexit. The country’s GDP increased by…

Concern Mounts as New Zealand’s Economy Starts to Show Signs of Slowdown

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Economic growth in New Zealand continues to perform well by most measures, although businesses across the country are worried about a slowdown in economic performance as a result of inflation. A sense of optimism among business leaders is notably lacking at present, in the wake of Prime Minister Ardern’s declared…