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NZIER Quarterly Survey of Business Opinion

Written by Sam Coxhead on January 17th, 2012.      0 comments

11:30 AM (NZT) The just released NZ Institute of Economic Research Quarterly Survey of Business Opinion shows economic growth slowing in the 4th quarter of 2011. Results point towards annual growth for 2011 of around 1.6%. Activity was lower in most regions, with Christchurch bucking the trend as the rebuilding phase of the cleanup after the earthquakes gathered momentum.
 
It would appear that a lack of materialisation of the benefits of the RWC maybe to blame for the lower of expectation from the retail sector. Interestingly hiring and hiring intentions remain relatively upbeat.
 
 NZIER head commented that the survey results point to a un changed cash rate from the Reserve Bank of NZ for much of 2012 and possibly longer.
 
Chinese GDP numbers later on this afternoon could be of interest, as will NZ inflation and Australian employment numbers on Thursday.
 
    Last 24 hours trade
  Current level Low High
NZD/USD 0.7933 0.7909 0.7966
AUD/USD 1.0305 1.0248 1.0337
NZD/AUD 0.7698 0.7674 0.7720
AUD/NZD 1.2990 1.2953 1.3031
NZD/GBP 0.5177 0.5169 0.5195
NZD/EUR 0.6265 0.6246 0.6282
NZD/YEN 60.92 60.77 61.13
NZD/CAD 0.8078 0.8063 0.8134
 
 

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