Strong job advertisements in June confirmed dairy sector woes and the Canterbury rebuild slowdown were being outgunned by strong activity elsewhere, ANZ chief economist Cameron Bagrie said yesterday.
Manufacturers in Otago and Southland supplying wood and metal products to the construction sector were thriving, Otago-Southland Employers Association chief executive Virginia Nicholls said yesterday.
The Reserve Bank is front and centre in the debate about New Zealand's housing situation but that did not tempt assistant governor John McDermott to give any signals in a speech he gave yesterday.
The game of political shenanigans and tit-for-tat press releases around New Zealand's housing problems continued yesterday and are likely to continue for some time yet.
Dwelling consents, bank lending and net migration were three of the main factors determining house prices, Milford portfolio manager Brian Gaynor said yesterday.
The ASB says it is "gobsmacked'' by the apparent lack of action by the Reserve Bank to deal with New Zealand's housing problems.
Consumers reached for their wallets in June as spending surged 1.3% from the previous month, well ahead of the 0.5% market estimate.
The Bank of England could cut its target cash rate as soon as the end of this week in response to Great Britain voting to leave the European Union.
The rejuvenation of South Dunedin will be a priority for an incoming Labour government, working alongside local government to develop a master plan for urban renewal.
Comment
Forsyth Barr has initiated coverage on Tourism Holdings Ltd (THL) with an outperform rating and a $3.25 a share target price.
The Labour Party continues to hammer the Government on rising house prices, seizing on comments made by the Reserve Bank's deputy governor for ammunition.
The ability to hire capable staff is re-emerging as a handbrake that may constrain further expansion of small businesses, an ANZ survey has found.
Australia's credit rating has been revised to negative from stable by Standard & Poor's because the agency no longer believes in the Government's ability to lower debt.
There has probably never been such a time when very small changes in inflation matter so much to the wellbeing of the economy, BNZ senior economist Stephen Toplis said yesterday.
Labour has used the Government's discomfort with the housing market to cash in with some announcements of its own on how to take care of people living rough.
The Brexit-induced panic on financial makers will probably lead to buying opportunities, although maybe not just yet, Craigs Investment Partners broker Chris Timms says.
The Government accounts are in surplus by more than $2.3 billion for the 11 months ended May and no-one cared.
Business confidence lifted strongly in the three months ended June in response to an earlier interest-rate cut by the Reserve Bank.
The Reserve Bank of Australia kept its cash rate at 1.75% at its meeting yesterday, in line with market expectations.
