Felix Delbruck

More good news, consumer confidence at nine year high

The Labour party were hoping that all the economic indicators would get worse in election year.

Unfortunately day after day and week after week all the indicators continue to improve.

The Herald reports:

New Zealand consumer confidence rose to a nine-year high in the first quarter of this year with optimism about the economy in the year ahead approaching record levels.

The Westpac McDermott Miller Consumer Confidence Index rose to 121.7 in March, up from 120.1 in the December survey, to the highest level since the credit-fuelled boom times of 2005. A reading above 100 indicates more optimists than pessimists. A net 35 per cent of those polled expect good times for the economy over the year ahead, up from a net 27.8 per cent in the December quarter and the third-highest reading in the survey’s history.? Read more »

Another campaign plank discarded

Labour constantly bangs on about migration…they won’t be for much longer.

Migration figures show more people are arriving than leaving.

Migration to New Zealand hit a 10-year high in September, as fewer Kiwis left for Australia and more new migrants arrived, adding more support for the housing market.

New Zealand saw a net gain of 2700 people in September as more people arrived than left, Statistics New Zealand said.

That was the highest monthly net gain since the middle of 2003 and stronger than economists had expected.

Westpac Bank senior economist Felix Delbruck said the surprise gain was largely due to fewer New Zealanders leaving for Australia, though arrivals of non-New Zealand immigrants continued at above-average levels.

The annual net gain was more than 15,000 for the year to September, which reversed the small net loss in the previous year.? Read more »

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