Following the global meltdown, it is amazing to see how New Zealand’s consumer index is enjoying an upward trend. It has been reported that ANZ-Roy Morgan New Zealand consumer confidence index rose 3.9 points to 113.3 points in the month of August.
The ANZ economist, Khoon Goh said, “The fact that it managed to rise shows that New Zealand consumers are largely brushing off offshore woes, for now anyway”. The stronger trend of consumer index in New Zealand highlights that the country is doing amazingly well to beat the global meltdown.
Furthermore, it has been reported that for the period of April-June quarter the unemployment rate remained steady at 6.5%. It is believed that the improved consumer index would also improve the job markets in the country.
The other economic data from New Zealand has revealed that the farm-based economy is struggling to shake off the impact of a lengthy recession that ended in mid-2009. In the month of June, the inflation in the country hit a 21-year high of 5.3%.
At that time, nobody thought that the New Zealand’s economy could prove so profitable.
Following the improving economy, the country is gearing up to rebuild Christchurch, the second largest city in Kiwis.