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Monthly Economic Indicators October 2016
Monthly Economic Indicators October 2016
The October
Monthly Economic Indicators (MEI) was published today on the
Treasury website at 2:00pm. The report provides a summary of
recent economic events.
The main points:
•
A solid lift in business activity and business confidence
continues to point to stronger GDP growth in the second half
of 2016 than forecast in the Budget Update.
•
Demand in the economy is driven by elevated net migration
inflows, housing demand and tourism spending. The export
price recovery is expected to continue.
• Annual
inflation remained weak in the September quarter, owing to
low petrol prices and a reduction in vehicle levies.
However, inflation is expected to rise from here.
•
International data were mixed but generally positive and
expectations of US monetary tightening increased.
Read more at: http://www.treasury.govt.nz/economy/mei/oct16
ends
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