Originally Posted by
Stick Flying
If NZ and Australia don't have some form of exit strategy they will almost certainly be suffering the economic fallout long after other countries are on the path to recovery.
Quote from NZ Hansard from Thursday this week
"
Question No. 3—Finance
3. Dr DUNCAN WEBB (Labour—Christchurch Central) to the Minister of Finance: What recent reports has he seen on the New Zealand economy?
Hon GRANT ROBERTSON (Minister of Finance): I know that this is a popular moment in the day for everybody. The Government's efforts to secure the recovery has been recognised once again by the global ratings agencies. Standard & Poor's global rating said in its mid-year update released yesterday that New Zealand's strong fiscal and monetary response to the pandemic, as well as the confidence in the Government's public health measures, have seen the economy recover much faster than expected. The ratings agency expects New Zealand to outpace its peers in the Asia-Pacific region, noting that economic activity has returned to its pre-pandemic trend in early 2021, making New Zealand one of the first countries to do so.
Dr Duncan Webb: What impact has the economy's recovery had on the labour market?
Hon GRANT ROBERTSON: Well, the Government's efforts to secure the recovery are reflected in the jobs market, which is going from strength to strength. The SEEK New Zealand Employment Report increased by 1 percent in June from the previous month to another record high for job advertising numbers. For the year, job ads rose to 115 percent, while job ad numbers are now 24 percent above pre-COVID highs—
Hon GRANT ROBERTSON: On a trend basis, job ads were above pre-COVID levels for all regions. Unemployment has fallen to 4.7 percent, and while there are challenges for businesses in finding workers, this is, in fact, a reflection of a stronger-than-forecast economic activity and the economy operating above pre-COVID levels. The Government will continue to work with businesses to support them as the recovery continues.
Dr Duncan Webb: What other reports has he seen on the New Zealand economy?
Hon GRANT ROBERTSON: Thank you very much. The latest global dairy trade auction shows prices are consolidating and actually declining 3.6 percent. The easing in prices comes after strong gains earlier in the year, which is, in turn, due to robust global demand for New Zealand dairy products. Economists are saying that the decline in prices is partly due to strong milk production, which rose 9.3 percent in May, compared to the same month a year ago. For the entire 2020-21 season, production rose 2.7 percent. Commentators expect dairy payouts to farmers to retain near-historic highs in the new season, which is positive for farm incomes, positive for the regions, and positive for the economy overall."
This report from Stats NZ makes interesting reading
https://www.stats.govt.nz/informatio...h-2021-quarter
My feeling is that the only problems NZ has are outside our direct control
1. Australia can't control the Covid outbreaks because a cadre of Australians refuse to do as they are told
2. We have fishing boat crew who arrive in AKL, are transferred by car to NPL, then test positive on the vessel so the vessel has to go to WLG for quarantine. (This one could have been solved if the crew had been refused entry)
3. Returnees undergo mandatory isolation and are negative on release. They then develop symptoms in the community. (The 14 day incubation period is reported as insufficient for Delta/Lambda)