New Zealand consumer confidence has dipped in the first quarter of 2016 as Kiwis become glummer about the economic outlook. The dip has been attributed to the talk about weak dairy prices in the media causing consumers to tighten their purse strings.
Christchurch Airport has experienced a revival five years after the earthquake that wreaked havoc on the region. Profits hit $20.6 million in the 2015 financial year, up 110 percent. Passenger spend rates at the airport have also had a bump and are up 4.2 percent, despite some niggly duty free changes. Retail spending is bound to increase further thanks to the recent addition of a new 6100 square metre retail precinct, which is so far home to a Countdown supermarket.
With some economists saying there could be a potential recession on the cards, we decided to look at what industries thrive when most fall on harder times. Two opposing retail industries make the cut - discount retailers and luxury retailers.
The dairy payout for farmers has dropped, which means those in the dairy industry will be tightening their purse strings - particularly in New Zealand’s rural regions. We talk to a senior economist about just how much of an effect this will have on retail sales.
The weather is known to have an effect on retail sales, but it’s hard to measure just how big of an impact the changing of seasons really has. We talked to senior economist Benje Patterson about the economical effects of New Zealand’s often turbulent weather patterns.