The latest quarterly economic forecasts from ASB say demand from Asia is playing a key role in New Zealand's economic recovery.
Chief Economist Nick Tuffley says GDP grew strongly over the March quarter, despite the February earthquake, highlighting the improving state of the underlying economy.
"We should be a bit more confident that the New Zealand recovery is starting to get going after a few false starts, it seems to be widening in the base in terms of the industries which are starting to show some signs of recovery."
He says more of our trade is heading to Asia.
"The fortunate thing for us now with about two-thirds of our goods going to the Asia-Pacific region, it is that region which is the one which is actually driving a lot of the global growth at the moment, so we are benefiting from what's happening in our backyard."
Mr Tuffley says the strong influence Asia is having on commodity prices, has not only lifted New Zealand's global purchasing power, but also changed how the global economy influences the New Zealand dollar.
By Sam Thompson
Source: www.newstalkzb.co.nz
Chief Economist Nick Tuffley says GDP grew strongly over the March quarter, despite the February earthquake, highlighting the improving state of the underlying economy.
"We should be a bit more confident that the New Zealand recovery is starting to get going after a few false starts, it seems to be widening in the base in terms of the industries which are starting to show some signs of recovery."
He says more of our trade is heading to Asia.
"The fortunate thing for us now with about two-thirds of our goods going to the Asia-Pacific region, it is that region which is the one which is actually driving a lot of the global growth at the moment, so we are benefiting from what's happening in our backyard."
Mr Tuffley says the strong influence Asia is having on commodity prices, has not only lifted New Zealand's global purchasing power, but also changed how the global economy influences the New Zealand dollar.
By Sam Thompson
Source: www.newstalkzb.co.nz
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