The time has come when buying an electric vehicle might be cheaper than getting a petrol car. This article addresses ten questions you might ask about electric vehicles.
The services industry is a key component of New Zealand’s economy, employing about 400,000 people or 18% of all workers in New Zealand. It relies heavily on young people with 30% of workers aged 15-24. Many of these young people work part time, often to fit work around other commitments like school or tertiary study. Some of these young workers stay on in the sector to become experts in their field, like world renowned chef Josh Emett while others stay for a short period of time, like I did, and learn valuable transferable people skills that can be used in other aspects of their working lives.
Consumer spending will grow at a historically average rate during 2016. However, averages can be misleading, with the composition of spending changing significantly over the year ahead. Low dairy prices, rising unemployment, and weak wage growth are expected to see consumers tighten their belts during 2016 – with individual consumers unwilling to spend in the face of job insecurity and limited income growth.
Statistics NZ recently released triennialinformation on spending by households in the June 2013 year. By using thesefigures we can get an idea about how household spending has changed since theGlobal Financial Crisis.
Durable good spending has been increasing strongly over thepast year, which is a good sign given that this type of expenditure usuallyleads the economic cycle. How much further does the lift in durable consumergood expenditure have to run, and what effect may the new loan-to-value limitson mortgages have on this form of spending?
In our latest set of forecasts weincorporated a lift in retail prices following the introduction of GST inOctober 2010. However, the figures produced by Statistics New Zealand exclude GST – implying that the figures will not match up to our forecasts forthe index. This article provides the figures excluding GST – and discusses whyit is useful to look at both series together.