M.I.A.
OPINION: The previous government spent too much during the Covid-19 pandemic, despite warnings from officials, according to a briefing released by the Treasury.
Agriculture has kept losses to a minimum as New Zealand reported its largest ever GDP drop on record.
Gross domestic product (GDP) fell by 12.2% in the June 2020 quarter, Stats NZ announced this morning.
The quarterly fall is the largest recorded since the current series began in 1987.
The fall is comparable to many other countries amid the pandemic; the GDP in the same quarter in Australia fell 7%, Canada 11.5%, Japan 7.9%, the United Kingdom 20.4%, and 9.1% in the United States.
Some industries were more affected than others by the border closure and alert levels restrictions in place during the June quarter.
Agriculture, forestry, and fishing recorded the smallest drop, falling just 2.2%.
Retail trade and accommodation and transport, postal, and warehousing recorded the largest drops, falling 25.2% and 38.7% respectively.
Financial and insurance services was the only industry that grew, with a 0.7% increase.
“Industries like retail, accommodation and restaurants, and transport saw significant declines in production because they were most directly affected by the international travel ban and strict nationwide lockdown,” said national accounts senior manager Paul Pascoe.
New Zealand started the June 2020 quarter in alert level 4 lockdown, reaching alert level 1 on 8 June 2020.
“While level 4 restrictions were in place for most of April, the gradual return to level 1 over the course of the quarter meant that businesses were able to open up again and many people returned to places of work,” said Pascoe.
Annually, GDP fell by 2.0%. This is the first annual decline since the March 2010 quarter.
'Common sense' cuts to government red tape will make it easier for New Zealand to deliver safe food to more markets.
Balclutha farmer Renae Martin remembers the moment she fell in love with cows.
Academic freedom is a privilege and it's put at risk when people abuse it.
All eyes are on milk production in New Zealand and its impact on global dairy prices in the coming months.
Claims that some Southland farmers were invoiced up to $4000 for winter grazing compliance checks despite not breaching rules are being rejected by Environment Southland.
According to the most recent Rabobank Rural Confidence Survey, farmer confidence has inched higher, reaching its second highest reading in the last decade.
OPINION: For years, the ironically named Dr Mike Joy has used his position at Victoria University to wage an activist-style…
OPINION: A mate of yours truly has had an absolute gutsful of the activist group SAFE.