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Weekly Overview May 22
Thursday May 22nd 2014
This week I travelled to Christchurch, Ashburton and the West Coast. Activity is forging ahead in Christchurch but there are deepening concerns about the quality of some work being undertaken by those who have flocked to the city with a gold rush mentality. Ashburton is active on the back of dairy sector investment. On the West Coast the coal mining sector remains weak but tourism is picking up and lots of tradespeople are busy cleaning up and undertaking repairs following the winds of a month ago.
This week the NZD has eased slightly on the back of a weaker Aussie dollar, and bond yields have crept lower in response to growing concerns about the underlying state of the US economy.