Economy

March witnesses 11% decrease in NZ guest nights

March witnesses 11% decrease in NZ guest nights

Statistics for accommodation have witnessed a drop by 11% for the month of March, mostly affected by the late arrival of Easter this year.

For accommodation providers the depressed headline numbers from Statistics New Zealand are more bad news, but are unsurprising.

The statistics were low universally across the country and led by a 24 % decrease in paid guest nights in camping grounds for each accommodation type, typically strong performers during the Easter break.

Approximately 82,000 Kiwi firms downgraded

Approximately 82,000 Kiwi firms downgraded

Approximately 82,000 New Zealand firms have had their credit risk or payment profile downgraded since January 2008, as they clearly saw the signs of stress in the recessionary economy.

It was confirmed by Credit reporting agency Dun & Bradstreet, which released the data today that this has come as the largest number of downgrades ever, over a 15 month period.

Biggest fall in food prices since April 2006

Biggest fall in food prices since April 2006

Statistics New Zealand latest report says that the food prices dropped down 0.6% with a sharp drop in kiwifruit prices almost by 55%.

In spite of the drop in April the food prices increased by 7.6% for the year to April 2009.

In the month of April fruit and vegetable dropped by 2%, grocery food fell by 0.4%, meat, poultry and fish decreased by 0.8%.

Non-alcoholic drinks dropped by approximately 1% during the month.

Restaurant meals and ready-to eat food increased by 0.4% and was the only subgroup to increase.

NZers feeling more secure about their jobs

NZers feeling more secure about their jobs

It has been specified by Research New Zealand polling that depite increase in jobless people to its highest level in six years, most Kiwis are confident about their job security and believe that the Government is taking the right steps to manage the recession.

It was put forward by the poll that two thirds (68%) of respondents believe the state of the economy is having an impact on their current financial situation and standard of living, and one in six (18%) feel it is having a 'big impact'.

House Prices improved in April

House Prices improved in April

Real estate sales review from Palmerson North’s has some positive information as the house prices were strong during April.

If Quotable Value is taken into account then an average house in city is worth 10.2 per cent less than at the same time last year. However it should be noticed that it came as an improvement from an 11.3% annual decline for the March quarter.

The first solid proof of an improvement in the residential property market was provided by the figures.

Six year high hit by NZ’s jobless rate

New Zealand's unemployment

In the first quarter New Zealand's unemployment rate reached a six-year high since the country experienced worsening recession.

In the three months ended March 31st, the jobless percentage increased to 5% from 4.7% in the previous quarter, the latest data from Statistics New Zealand confirms.

The entire number of people without a job was 115,000, in the three months to March 31 up by 7000.

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