Economic Uncertainty

The Global recession has decimated many parts of New Zealand’s economy. It has put people out of jobs and, many cases out of their homes as well. According to this article, some of the recent statistics suggest a recovery in New Zealand’s economic situation. Others, however, still show the grip of the recession holding tightly.

According to the article, production GDP rose 0.8% in December thanks, in large part, to manufacturing. Business confidence is also on the rise. Conversely, however, is a reported increase in unemployment, which is currently at a 10-year high of 7.3%. This, combined with increased household spending, is causing skepticism in regards to economic recovery. According to New Zealand’s treasury department, the countries GPD remains 2.1% below its peak, which occurred two years ago.
http://www.stuff.co.nz/business/market-data/3551540/Mixed-messages-in-data-Treasury