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New Zealand dollar is growing quite well


4 August 2021

New Zealand dollar is growing successfully in pair with its US counterpart, using outer stimuli. The current quotation is 0.7051. The unemployment rate in New Zealand in Q2 dropped to 4% against 4.6% previously. A decline had been, indeed, expected, but forecasts were conservative, suggesting a decline to 4.4%. By the way, unemployment in the country reached its peak in 2020, amounting to 5.3%. Since then, the indicator has been declining thanks to the number of vacancies growing, the number of those on dole shrinking, and a lot of employments lacking workforce.

The statistics presented today reflected serious growth of the number of employed citizens in Q2. The indicator grew by 1% against 0.7% forecast. Inflation of wages grew by 2.1% over the year that ended in Q2. Average hourly earnings increased by 4%.

These are really good results that confirm the stability of the economic system and make reduction of stimuli logical. Total economic activity in New Zealand is exceeding the pre-pandemic level. Most positively growing sectors are building and household spending.

#source

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