Manukau’s business and economic environment - July 2009
Manukau Quarterly Economic Review
Manukau’s business and economic environment - October 2009
The New Zealand economy technically moved out of recession in the June quarter after five quarters of negative growth. However, unemployment is climbing rapidly, and much of the international economy remains soft. The New Zealand economy will remain sluggish over the next year, although a better than anticipated performance by the Australian and Chinese economies poses some upside for New Zealand economic performance over the next 12 months - by providing demand for our export products.
Manukau City remained deep in recession in the year to June 2009 and underperformed Auckland Region and the country as a whole according to most of the monitored indicators. Its wholesale trade, transport and communication industries performed particularly poorly dragging GDP down by 2.3% compared with the previous year. Although employment grew slightly (0.6%) it was unable to match the growth in the workforce and the number of registered unemployed job seekers jumped by 72% and unemployment rose to 7.9% in the June quarter from 5.8% in the same quarter in 2008. The construction sector has been hammered with building consents plummeting. Rapidly falling house sales and guest nights and a poor retail performance complete a bleak picture for the June 2009 quarter.
The outlook is slightly better for the September quarter and much better for the December quarter, according to the Quarterly Survey of Business Opinion conducted by New Zealand Institute of Economic Research in September 2009.
For more information please read June 2009 Quarterly Economic Monitor- Manukau City And view NZIER Quarterly Survey of Business Opinion charts for Manukau.
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Manukau Quarterly Economic Review
View the quarterly report on economic activity in Manukau city.
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