In its advice to the government, the Climate Change Commission (CCC) recommends the urgent development of a long-term national energy strategy to decarbonise the energy system and ensure the electricity sector is ready to meet future needs.
Our work in the news
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Here is list of Infometrics’ latest mentions in the media.
The New Zealand Climate Change Commission has released its final report; Ināia tonu nei: a low emissions future. The report is over 400 pages, with about the same amount again in the form of supporting material. Overall the results from the analysis are very similar to those in the draft report, albeit with some significant changes regarding the rate of uptake of electric vehicles, the output of emission-intensive industries and emissions reduction options in pastoral farming.
The Block NZ is back, and there couldn’t be a better time for people to give up three months of their lives in the hope of making some money. Our Chart of the Month shows there is a strong correlation between house price growth in Auckland and the average profits made on the show.
A surge in March quarter GDP is further evidence of a resilient New Zealand economy. But with economic activity comfortably above pre-COVID levels, employment rising, and inflation also set to pop higher, it’s becoming harder to justify keeping interest rates at record lows.
The 2021 Budget showed a much-improved economic outlook from the Treasury, but also further raised questions about the ability for the government to execute its ambitious policy agenda. Along the large spending commitments, and improvements in the government’s fiscal position were signs of some restraint.
The global tourism industry was hit hard by unprecedented disruption from COVID-19 and ensuing travel restrictions in 2020. In New Zealand, the international tourism tap was firmly turned off. On the flipside, New Zealanders developed a newfound appreciation for their own backyard, ticking our beautiful glaciers, fiords, and more off their bucket lists.
Recent concerns around the cost of housing have shone a spotlight on residential rents, with the previously unremarkable indicator now closely watched. But substantial changes to how rental data is now collated means that extreme caution should be used to evaluate recent rental trends.
Electricity prices have spiked in recent months, with the cost of generating power pushed up by low hydro lake levels and decreased gas output.
The summer of 2020/21 provided a boost to a number of regional economies even as traditional tourism hotspots remained hard hit by the loss of international tourism. The latest Infometrics Quarterly Economic Monitor points to a faltering in the overall economic recovery, with a further divergence across New Zealand. Some parts of the country have continued to recover further but other areas show patches of softer economic activity.
What we export as a nation shapes us considerably. It influences the skills we develop, how the countryside looks, and how other countries view us. Our exports also shape our regions, with a typical Waikato scenery of rolling dairy country, Marlborough’s endless rows of grapes, and the Bay of Plenty with its tangled kiwifruit vines. We should then be very aware of what produce comes from each part of the country, as it not only shapes the local economy it shapes the entire landscape.