There were 10,827 businesses removed from the Companies Register in September, well up on the lockdown low of 839 in April. Nevertheless, don't get too concerned just yet. Offsetting these closures have been surprising levels of business startups, which rose sharply in the September quarter.
A return to a business-as-usual environment is not necessarily an aspiration shared by all. A fantastic outcome for New Zealand and its regions would be if we can use COVID-19 as a reset to think about how we can do things better.
The average lockdown wage haircut was much smaller than the fall in mortgage expenses because of lower interest rates. Consequently, in net terms, an existing homeowner earning an average income was actually better off.
New Zealand’s export performance has been an enduring good news story. Incredibly, the expansion to the trade surplus during 2020 has more than offset the reduction of foreign visitor spending to date.
A tight housing market has continued to put pressure on renters in many parts of the country at a time when incomes are squeezed. But the geographical distribution of rent increases has been uneven.
I was fortunate to speak at Economic Development New Zealand's national conference. I shared my experiences of assessing how COVID-19 is affecting local economies and what economic development professionals can do to help understand what is happening in their local area.
A potential New Zealand-Cook Islands travel bubble is a perpetual mirage on the horizon for kiwi travellers. The bubble would not just be a boon for kiwi sunseekers, but it could also be a $200m+ form of ‘soft aid’ that is a saviour of the Cook Islands economy.
The school holidays are behind us. Parents may be sighing with relief their dear children are no longer running riot, but many of our visitor destinations are back on tenterhooks as they wait to see whether the initial sugar rush of domestic travel can be sustained.
GOOD NEWS STORY: New Zealand’s trade surplus is sitting at record levels. What’s more, the expansion to the trade surplus has more than offset reduced international visitor spending.
The outlook for Māori-owned farms is “surprisingly strong”, despite the worldwide impact of the Covid-19 pandemic was what I told Stuff's Susan Edmunds in a recent interview.
The looming closure of Tiwai is a devastating blow for Southland. I spoke with Stuff's Melanie Carroll to put the closure in perspective, against how the rest of Southland's economy is faring amid the COVID-19 pandemic.
The COVID-19 lockdown and border closures have hampered business earnings. This article assesses the effects these challenges have had on the retail sector across regional New Zealand and what’s in store for the coming months.