The economic recovery gains momentum... ...driven by low interest rates, investment and strong export prices
Economic growth is the highest in five years. Wages are growing, cost of living increases have been modest and interest rates are at 50-year lows.
GDP growth is forecast to continue at between 2 and 3 per cent...
- Real production GDP (annual average % change)
...while many other countries have struggled with too much government debt and little growth
- Forecast trading partner growth (calendar years)
Households enjoy higher disposable income...
- Household disposable income (March years)
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...and low interest rates
- 90-day interest rates
Investment, including for the Canterbury rebuild, is expected to be a driver of economic growth.
There are 50,000 more jobs than two years ago and the unemployment rate has fallen to 6.2 per cent, the lowest in three years.
Household income has risen by 20 per cent over the past four years, and is expected to rise by almost 20 per cent over the next four years.
Delivering a stronger and more prosperous New Zealand depends on businesses having the confidence to invest and employ more people. The Government has a clear plan to build this confidence, based around its four key priorities:
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Responsibly managing the Government's finances
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Building a more productive and competitive economy
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Delivering better public services within tight fiscal constraints
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Supporting the rebuild of Christchurch
