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After “18 months of misery”, the New Zealand economy seems to be turning a corner, according to Brendan O’Donovan, chief economist at Westpac New Zealand. “Times are still very tough, but if it were not for the threat of swine flu, we would say that the recession has already ended,” he said. Westpac’s forecasts say [...]
...read moreGlobal credit insurance agency Coface predicts that the rest of the year will see the world end on a recession, contracting by 2.5 percent, but then proceed to slow growth of 1.7 percent next year. Emerging economies will outpace industrialised countries, growing 0.7 percent this year and 4.1 percent in 2010. “Some real economy indicators [...]
...read moreThe New Zealand economy is suffering its longest and deepest recession in almost two decades, and it is unlikely that its June quarter figures will bring good news. The gross domestic product of our trans-Tasman neighbours contracted one percent in the March quarter and figures for the June quarter are expected to look similar. The [...]
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A report by market analyst firm Datamonitor has revealed the growing global opportunities in the service industry, particularly the retail sector. Retailing in a Recession: The Opportunities for Outsourcing examines the business processes that retailers outsource and why, finding opportunities in Western Europe and North America. “Many [retailers] are looking to technology and services to [...]
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Despite hard economic times opportunities still exists for exporters. Peter Mace explains some of the benefits available.
...read moreIncreased production in the meat and dairy sector has led to a rise in manufacturing sales for New Zealand, according to their national statistics bureau. Statistics New Zealand reports that sales gained 0.2 percent in the March quarter compared with the previous three months, and that meat and dairy sales surged 23 percent. Without meat [...]
...read moreThe first Australian Tourism Exchange (ATE) since 2004, which began at the weekend to run to June 19, has revived hopes that the industry can secure future business using direct connections. “ATE is the one chance a year that Australian tourism businesses have the chance to meet face-to-face with the people responsible for selling Australian [...]
...read moreBrazil officially entered recession this week as gross domestic product figures showed a 0.8 percent drop for the first quarter of the year, following the 3.6 percent contraction in the last quarter of 2008. Latin America’s largest economy – and the one tipped to become a global economic power in a couple of decades – [...]
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Exports from Germany plunged almost 30 percent on last year’s figures, while industrial output slowed by 21.6 percent over the same period, according to figures released earlier this week. The 28.7 percent annual drop in exports was the biggest fall since records began in 1950. The newly-released April export figures represented a drop of 4.8 [...]
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The International Air Transport Association (IATA) has estimated that the airline industry stands to lose $9 billion this year due to plunging passenger numbers, falling fare prices and fuel prices. The global recession has reduced the amount of business passengers, while profits are undermined by a ticket price war for the remaining passengers. “There is [...]
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