Yesterday’s 0.3 decline in GDP in just the September quarter
makes New Zealand the worst-performing economy in the developed world. And we’re forecast to be worst next year as well
Even then, the result was inflated by record net migration, despite yet another massive brain-drain.
Per person, GDP fell an extraordinary 0.9 per cent in just three months.
On an annual basis, GDP fell 0.6 per cent. That compares with our main trading partners all growing respectably over the same period: Australia up 2.2 per cent; the US up 3.0 per cent; and China up 4.9 per cent.
The mind boggles at how bad the data would have been had the previous Government not also cynically flooded the economy with borrowed cash.
Covid to long ago;
cyclones a year ago;
Russia/Ukraine war can’t use that one anymore either; what about Jacinda/Robertson simply did not understand how the world works…
On a positive note I hear National plans to announce they intend to double exports in 10 years. Thats a plan that will create wealth and fund social services. And one that we can hold them to account on because they will still be in govt then, because of the last 6 lost years!