(MENAFN) New Zealand strongly projects a robust economic development for the coming few years, as economic activity picked up over the second half of 2015, according to the latest reports.
The affirmed forecasts are mainly supported by a solid population growth, construction and tourism, not to mention the rise in non-dairy sectors, all pouring into an anticipated GDP recovery of 3pct this year.
However, the current volatility in international financial markets was a harsh reminder of how quickly sentiment could change, as inflation stayed very weak amid the notorious low oil prices.
Nonetheless, lower petrol prices had also reduced costs for households and businesses and stimulated spending, and while wage growth was subdued, it was still overtaking consumer price inflation.
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