Agri sector to lead economic recovery
OPINION: Over the past month, people up and down the country have been asking me what I think is in store for the Agri sector.
Agriculture was the only contributor to a 1% increase in labour productivity in the March 2012 year, Statistics New Zealand says.
Output grew 2.7%, with growth strongest in the agriculture industry, which increased 30%.
"The growth in agriculture output was the result of excellent growing conditions," Statistics NZ national accounts manager Rachael Milicich says. "If we excluded agriculture, labour productivity would have fallen."
Labour productivity measures the quantity of goods and services (output) produced for each hour of labour. The latest figures show that if 100 products could have been produced in one hour of labour in 1996, then 126 could have been produced in one hour of labour in 2012. The number of paid hours of labour per week in productivity statistics increased 1.4% in the year ended March 2012, to 54.9 million hours.
In the March 2012 year, multifactor productivity, which measures how efficiently goods and services are produced in the economy, grew 0.7%. This was because outputs (goods and services) grew faster than the inputs (hours of labour, and capital, like land and buildings) used to produce them. Growth in this area shows more efficient production and is often associated with technological change, organisational change, or economies of scale.
Productivity is regarded as key to increasing New Zealand's standard of living and is a major driver of gross domestic product – the main indicator of economic activity. Productivity statistics cover about 80% of the economy and exclude government administration and defence, health, and education.
An independent report, prepared for Alliance farmer shareholders is backing the proposed $250 million joint venture investment by Irish company Dawn Meats Group.
Whangarei field service technician, Bryce Dickson has cemented his place in John Deere’s history, becoming the first ever person to win an award for the third time at the annual Australian and New Zealand Technician of the Year Awards, announced at a gala dinner in Brisbane last night.
NZPork has appointed Auckland-based Paul Bucknell as its new chair.
The Government claims to have delivered on its election promise to protect productive farmland from emissions trading scheme (ETS) but red meat farmers aren’t happy.
Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.
The Ministry for the Environment is joining as a national award sponsor in the Ballance Farm Environment Awards (BFEA from next year).
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