The economic outlook has taken on a gloomier hue, with dairy prices plunging. Columnist Felix Delbruck, a senior economist at Westpac, examines how the economic and financial environment has changed over the past few months.
The Reserve Bank and the Government are performing a delicate balancing act. The latest Retail Trade Survey outstripped even the most bullish of expectations, with retail volumes rising 2.7 percent in the March quarter, the fastest growth since 2006.
Westpac senior economist Felix Delbruck looks at the economic reasons why consumers in rural New Zealand are feeling a lot more upbeat than they were late last year.