According to the Wall Street Journal's article, economists believe that New Zealand's economy is on the rise for the for the first time this year. After having one of the worst quarters ever the economy is pulling itself out of their recession. According to the article, New Zealand has never been five straight quarters of no growth this long since the 1970's where the economic problems came from the oil shock. The Gross Domestic Product has grown 0.8% in the last quarter since December 31. According to National Accounts manager Rachael Milicich the growth is coming from strong manufacturing from December 2009. So this shows hard work does pay off in the long run
The economists believe the boost in gross domestic product is coming from food, beverage and tobacco manufacturing. Also, the economy is suppose to be still growing by the end of the quarter. However, the only reason the gross domestic product is increasing slowing is because of the fishing and mining industry. Overall though the economy is doing much better because their is an increase in supply and demand. This is a good sign showing that at least some countries are pulling through these rough times.
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Good Post. That is good that New Zealand's economy is on the rise. Hopefully it can continue to be successful!
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