The world, we are constantly told, is in the middle of a recession.
Much of the daily news gloomily recounts tales of job losses, company shut-downs, cost-cutting on a colossal scale and dark predictions that worse is still to come.
But how is the recession playing out in Central Otago and the Lakes district?
Our regional team, spearheaded by Wanaka bureau chief Marjorie Cook, has this week gone looking for the answers.
This, in part, is what she has to report:
"Property sales increased in March; some folk are still opening shops; farmers are pleased with sheep prices; the council (QLDC) faces a $413 million debt by 2019; Wanaka wants a new swimming pool; winegrowers are looking for new markets; developers are travelling to the United Kingdom to try to recover debts; receivers are stripping restaurants of fittings; there's a glut of empty sections on the market and builders can't find enough work; the number of northern hemisphere visitors is dropping . . ."
Today we publish an in-depth look at all those points, and more:
