Tuesday, May 15, 2012

NZ GDP growth revised down

Just when you thought it couldn't get any worse.
StatsNZ has revised its methodology for calculating GDP figures, leading to a revision of last years growth to 1.1%, down from the previously published 1.4%.

Source: StatsNZ  
Of course people have been anecdotally alluding to poorer growth than government figures for sometime. Essentially the NZ economy is where it was in 2006, 2007. Ongoing dynamics in Australia (slowing but a boost from their last budget), China (slowing), Europe (declining) and the US (moribund) mean a small exporting nation like Aotearoa/NZ is going to be buffeted for a while longer.

Curious to see Prime Minister John Key bemoaning his job and his treatment in the media. If you think it's tough not being (universally) liked, try being broke bro.

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Simon Lambert

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