The Federal Reserve in the United States is determined to get growth self-sustaining with rising consumer spending and business investment. The business investment leg suffered a crick this week with weaker than expected durable goods data. That just reinforces the Fed.’s determination to keep monetary policy easing.
I was there at the conference in Brussels when the European Commission President Mr Barosso essentially said the limit of fiscal austerity has been reached – though I was too busy taking notes from his comments a few minutes before then to realise the significance of his utterance.
Results from our monthly BNZ Confidence Survey show that conditions remain the same as ever in the residential real estate market. Listings are in short supply, prices are rising, but upward pressure on rents is not that great. This latter dimension reflects the inability of landlords to raise rents in our medium income country where […]
Although our monthly business confidence survey has risen quite firmly with not a single mention of the drought (in stark contrast to a month ago) we don’t think the Reserve Bank will look at the results and develop greater concern about inflation. New Zealand’s inflation rate has been below 1% for a year now and […]
During the month of March NZ ran a trade surplus of $718mn which is very good considering last year the balance was $186mn and two years ago $582mn. In fact for the quarter exports were ahead 1% from a year ago while imports were down 4.5%.
In one’s life there are many firsts – first steps, first use of the big toilet, first time out of the car seat, first kiss, first job, first marriage. In Paris I experienced a first. Having stayed in motels and hotels from London to New York, Boston, Chicago, Bruges, Dublin, Seoul, Hong Kong, Invercargill and […]
At the moment I am in London spending my time meeting quite a number of Kiwis over here, giving the occasional presentation, and discussing Europe and the UK with some folk from the Bank of England. In no particular order of importance here are a few observations you might find of interest. I shall write […]
Our monthly survey of Weekly Overview readers attracted 203 responses and found a strong net 45% feeling that the economy will be better in a year’s time. This is up from the late-March result of a net 25% positive and is suggestive of eventually some good employment and capital spending growth.