The latest Infometrics forecasts reinforce that New Zealand is expected to experience a period of softer growth over the next few years. With many businesses and boards currently reviewing their strategic plans and priorities for the coming years we thought it useful to briefly highlight some of the key current economic insights that decision makers need to be aware of.
With local elections in full swing, there’s a greater focus on the direction that our councils are moving towards and how much is it going to cost. Wrapped up in these discussions is the the fact that right across New Zealand we need to address our infrastructure deficit after decades of neglect. Planning to address this deficit will not be easy, or cheap, but is critical to aiding growth and fixing our housing issues.
On 23 September StatsNZ released the first batch of Census 2018 data, which includes high-level national trends, population counts for local areas, and the number of electorates. Although it is great to finally have some 2018 Census data, the information available is still very high level.
The latest Infometrics Quarterly Economic Monitor highlights that almost all regional economies continue to grow, driven by population growth and sustained consumer confidence. However, concerns are growing about future growth, with a long, slow, slowdown expected over the next few years.
The July 2019 Infometrics forecasts show a long, slow, slowdown is on the cards for the New Zealand economy. With lower growth on the way, it’s worth highlighting some of the options that are available to New Zealand to combat the slowdown along with the opportunities and challenges of these options.
Māori education outcomes continue to lag behind other groups in New Zealand. This lower attainment highlights a need to change what we’re doing to ensure that Māori succeed in education. Increasing Māori education outcomes will not only unlock more opportunities but will also give New Zealand the skills to enable us to prosper. A focus on Māori education outcomes is even more important given the growth in Māori in the working age population over the next 10-20 years.
A new report from economic consultancy Infometrics highlights the stark divide in wellbeing between urban and rural New Zealand. Regional Wellbeing marks the first attempt to comprehensively report on wellbeing at a local level around New Zealand. It covers 30 indicators and draws from Infometrics’ online Regional Wellbeing Framework.
Today’s Wellbeing Budget is a significant departure from previous budgets. Finance Minister Grant Robertson has laid out an ambitious spending plan for the economy based around the government’s five wellbeing priorities. The test will be how achievable this plan is.
All eyes are on wellbeing this week, as Finance Minister Grant Robertson unveils the world’s first wellbeing budget. But the Government has been quiet as to wellbeing differs across New Zealand. At Infometrics we thought this was a massive gap that needed to be filled, so we developed a Regional Wellbeing Framework. This article outlines introduces our Regional Wellbeing Framework and provides a teaser to our forthcoming regional wellbeing report that will be released on 11 June.
New Zealand’s labour market remains tight, with unemployment at 4.2% and businesses finding it difficult to source workers. At the same time, employment growth has slowed, and the Reserve Bank has stated that, in its view, “employment is near its maximum sustainable level”.