The latest Infometrics Quarterly Economic Monitor shows the first signs of New Zealand’s economic slowdown as the COVID-19 pandemic and recession changes the way that businesses, households, and government operates.
Our work in the news
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Here is list of Infometrics’ latest mentions in the media.
The government has a clear opportunity to address New Zealand’s shortage of social housing and support the residential construction industry by significantly increasing construction of state houses over the next two years, says economics consultancy Infometrics.
A commitment from the government to build an additional 9,400 state houses over the next two years would mitigate the construction sector’s downturn, helping to prevent a repeat of the massive loss of capacity that occurred following the Global Financial Crisis. It is also an opportunity for the government to make a real difference in housing outcomes for some of society’s most vulnerable people, contributing to better wellbeing in a way that KiwiBuild was never going to do.
New Zealand has exited the Level 4 lockdown and is now in the Level 3 “waiting room”. Job losses are expected to keep rising as businesses reassess economic conditions and start to downsize. The structural changes New Zealand’s labour market will experience will be significant, as will the need for government support. In this article, we highlight some of the changing trends in the labour market.
The movement of freight around the country has changed dramatically since the Level 4 lockdown, both in terms of the content and quantity of cargo. The most notable change, of course, is that the roads are eerily quiet because most human movements have ceased. As for remaining traffic flows, what road freight services are required to allow essential services to keep functioning, and what do we expect to happen to road freight once lockdown restrictions are uplifted? In this article we try shed some light on these questions during these very uncertain times for road freight.
With the government turning its mind to how New Zealand can best recover from a severe economic downturn, an ability to rapidly deploy and execute recovery policies will prove critical to success. But our analysis shows that, prior to the COVID-19 pandemic, other government policies such as the Provincial Growth Fund (PGF) haven’t been able to move at pace. A greater focus on local decision making, with a coordinated and integrated approach, provides the best chance for the Provincial Growth Fund to be reimagined as a Regional Resilience Fund.
With businesses struggling to survive, many workers will find themselves out of work, and the unemployment rate is set to rise to multi-decade highs of around 10%. In this article, we explore what industries are set to see the largest declines in employment across New Zealand over the next year.
Back during Christmas 2017, car dealers must have had plenty to celebrate. Riding the crest of a wave of population growth and a prosperous economy, spurred on by the National-led Government’s open-door policy towards international migration, an unprecedented 274,000 new and used cars had been newly registered in New Zealand in the previous 12 months.
The rapid deterioration in economic conditions across New Zealand, and expectations for a long, slow, recovery, signal a tough few years for the economy. But New Zealand’s strong primary sector, and position as a food exporter, is likely to provide a solid foundation for regional New Zealand.
New Zealand has almost completed a month of Level 4 lockdown, aimed at halting the spread of COVID-19. And it seems to be working! New Zealanders have endured incredibly tough restrictions, including requirements to stay home, as well as increased risks for essential workers as they ensured that New Zealand remained fed and looked after.