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New Zealand Economy Grows For First Time In 18 Months

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http://www.telegraph.co.uk/finance/finance...-18-months.html

The economy posted growth of less than 0.1pc in the three months ending June 30, the government said, surprising economists who had predicted a 0.2pc contraction. The economy contracted for all of the previous five quarters.

The June result "shows the economy is through the bottom of the trough and is now stabilizing," Finance Minister Bill English said.

However, the government-funded data agency Statistics New Zealand warned that the quarter's weak growth was too small to be seen as a definitive sign of a turnaround in the economy.

The agency said that economic activity for the year ended June 2009 decreased by 1.8pc, the largest annual shrinkage of economic activity since the figures began in 1987. This compared with 2.5pc growth in the previous year — half of it before the recession struck.

The agency's latest figures showed primary industries had grown 1.5pc in the June 2009 quarter, mainly driven by forestry and logging, up 8pc.

Goods-producing industries contracted 0.5pc, with manufacturing down 1.3pc and construction down 1.9pc, but a 5.9pc increase in electricity, gas and water partly offset these declines.

Activity in services industries was flat for the quarter.

English said that while growth was "marginally positive" in the June quarter, "for most people the real measure of recession is unemployment, which is expected to keep rising for some time yet."

The miracle recovery is here, we can all rest easy. The technical recession is over.

Growth just over 0% happy days are here again.

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http://www.telegraph.co.uk/finance/finance...-18-months.html

The miracle recovery is here, we can all rest easy. The technical recession is over.

Growth just over 0% happy days are here again.

:lol::lol::lol: They are giving us all this green shoots w@nk over here too.

Food inflation, especially meat is outrageous. A family leg of lamb as far as I can see is about 40% more than a year ago, and the natives are getting restless.

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Guest DissipatedYouthIsValuable
:lol::lol::lol: They are giving us all this green shoots w@nk over here too.

Food inflation, especially meat is outrageous. A family leg of lamb as far as I can see is about 40% more than a year ago, and the natives are getting restless.

I'm sure you Kiwi battlers will make it good as.

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:lol::lol::lol: They are giving us all this green shoots w@nk over here too.

Food inflation, especially meat is outrageous. A family leg of lamb as far as I can see is about 40% more than a year ago, and the natives are getting restless.

Its a legless recovereh

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Guest DissipatedYouthIsValuable
It's all good ( DENIAL!!)

Hey, you can dive and harvest 4 paua a day, and catch a couple of trout on a single hook in almost any river over there.

I wouldn't get too worried about protein lack.

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Hey, you can dive and harvest 4 paua a day, and catch a couple of trout on a single hook in almost any river over there.

I wouldn't get too worried about protein lack.

10 paua

200 cockles

30 flounder

Enough Rabbits to feed the world

free and easy

trout, pah, fresh water fish taste like nothing ( good fun cathcing them though)

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:lol::lol::lol: They are giving us all this green shoots w@nk over here too.

Food inflation, especially meat is outrageous. A family leg of lamb as far as I can see is about 40% more than a year ago, and the natives are getting restless.

there was a current affairs segment on aussie tv a few months back and the woman flew over to NZ , bought a bunch of aussie made foods (vegemite , kelloggs cereals , kraft peanut butter etc) and flew back to sydney and this actually worked out cheaper to do than buying the stuff in an aussie supermarket!

anyway back to reality.the NZ economy is still shrinking - population growth required more than 0.0-0.1 gdp increase to increase employment figures.the 0.0-0.1 % rise can be put down to immigration and not any miracle recovery.kind of like how if china grows at less than 8% a year unemployment rises but on a much smaller scale.

Edited by Ruffneck

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there was a current affairs segment on aussie tv a few months back and the woman flew over to NZ , bought a bunch of aussie made foods (vegemite , kelloggs cereals , kraft peanut butter etc) and flew back to sydney and this actually worked out cheaper to do than buying the stuff in an aussie supermarket!

anyway back to reality.the NZ economy is still shrinking - population growth required more than 0.0-0.1 gdp increase to increase employment figures.the 0.0-0.1 % rise can be put down to immigration and not any miracle recovery.kind of like how if china grows at less than 8% a year unemployment rises but on a much smaller scale.

When it hits here boy is it gonna hit!!

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