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Economy
Reserve Bank of New Zealand adds a new tool to control house prices
June 15, 2021 07:13 PM PDT| By ManikaSummary The RBNZ initiates new tools to keep house prices in control. Government says these should not impact first-time home buyers. The RBNZ says these tools will only help in keeping the prices at sustainable levels. The Reserve Bank o.....
US retail sales drop 1.3% in May as spending shifts back to services
June 15, 2021 04:20 PM PDT| By Team Kalkine MediaSummary Expenditure on big items like auto, furniture, building material has dropped due to high prices and supply chain disruption. Spending on food, services, clothing, and entertainment activities like theme parks and casinos has gone up. .....
Are retail sales increasing in the US?
June 15, 2021 03:42 PM PDT| By Kiran MuraliRetail sales represent the purchase of goods and service through different channels by consumers and businesses. It indicates consumer demand for finished goods in a market. The Bureau of the Census puts out the advance monthly sales estimate for re...
Annual food prices in New Zealand rise 1.8% in May
June 14, 2021 09:39 PM PDT| By SonalSummary Increased vegetable prices were the biggest contributor to the rise in food prices in May. Tomato and capsicum prices increased while kiwifruit prices fell in the month. Annual food prices in NZ rose 1.8% between May 2020 to May 2021. .....
Will New Zealand’s Q1 GDP numbers have an impact on the monetary policy stance?
June 14, 2021 07:58 PM PDT| By ManikaSummary March quarter GDP numbers to be revealed on 17 June. Whether GDP numbers will increase or dip, is the question? Most say, GDP will show an increase in view of the latest updates on NZ’s economic recovery. The Q1 GDP numbers .....
Will EV market recover?
June 14, 2021 05:21 PM PDT| By Team Kalkine MediaElectric vehicle is the buzzword these days as almost all companies, big or small, are tapping into the EV market and helping support the global efforts to reduce carbon buildup. As the world is shifting towards creating a pollution-free circular ec...
US oil prices hit 2-year high as demand soars
June 14, 2021 04:22 PM PDT| By Team Kalkine MediaCrude oil prices in the US hit US$71.48 a barrel on Monday, June 14, the highest in the last two-and-half-years. Oil prices have doubled since October last year and are expected to remain high as demand continues to rise with the easing of b.....
Deep dive into New Zealand Property Market
June 13, 2021 11:59 PM PDT| By SonalGiven the country's tiny population and enormous geographic mass, real estate in New Zealand is relatively costly. This has been the case due to steady increases in property prices for many years, which have coincided with consistently excellent...
Why Inflation right now could add fuel to income inequality
June 13, 2021 07:23 AM PDT| By Furquan MoharkanAs countries across the globe – from China to the US – have been reporting record inflation numbers, it could be having greater consequences than we can think about. There are four types of inflation that exist: creeping inflation (when...
How US Firms Helping To Remove Polluting Landfill Trash
June 12, 2021 07:03 AM PDT| By Team Kalkine MediaSummary US companies are adopting new technologies to curb greenhouse gas emissions, ensuring industrial safety, safeguarding public health and the environment. The waste-to-energy projects are safe and technologically sound - converting waste,.....
Average asking prices for New Zealand houses soar 17% in May, price growth to slow in 2021
June 11, 2021 01:00 PM PDT| By SonalHouse prices in New Zealand are on a relentless rise in May as well, hitting a high for the 9th consecutive month. New property statistics released by Trade Me Property show that the average asking price for houses have risen 17% annually to reach $...
New Zealand manufacturing on a slow but steady growth path
June 11, 2021 12:08 AM PDT| By ManikaSummary May manufacturing activity has shown improvement over April. Its PMI is 58.6, slightly higher over April’s 56.4. Manufacturing sector still faces challenges due to higher input costs and supply-chain disruptions. Manufacturi.....
US Consumer Prices Jump 5% in May, the Highest In 13 Years
June 10, 2021 02:41 PM PDT| By Team Kalkine MediaSummary Prices of used vehicles, airfares, hotel rooms, and apparels have gone up. It was the highest jump in prices since August 2008, when it was 5.4%. However, minus the energy and food prices, the core price index grew by 3.8% in May com.....
New Zealand May 2021’s Card Spending witnesses a Surge
June 09, 2021 09:12 PM PDT| By Jasmine AnandSummary New Zealand sees an increase in its retail card spending owing to the successful handling of the pandemic and opening of the trans-Tasman bubble The consumer confidence levels have now increased, resulting in strong growth in Kiwis&rsqu.....
March 2021 quarter sees a jump in electricity, wholesale sales in New Zealand
June 08, 2021 07:07 PM PDT| By SonalThe business financial data released today revealed actual sales values of 26 industries for the March 2021 quarter . The data comprises purchases, sales, wages and salaries as well as operating profit from most market industries in the NZ economy....
What is PMI and why is it important?
June 06, 2021 06:03 PM PDT| By Furquan MoharkanThe Purchasing Managers’ Index (PMI) has been in news all through the last two weeks. Many countries across the world released their PMI numbers for the month of May – which determined the trend in their stock markets. So, what is PMI?...
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How Biden Plans To Cut 50% Emissions By 2030
June 06, 2021 12:38 AM PDT| By Team Kalkine MediaThe Joe Biden administration has set a target of a 50% reduction in greenhouse gas emissions in the US by 2030 as part of an ambitious plan to tackle the climate crisis head-on. The plan was announced during the Leaders' Summit on Climate, hosted .....
US Adds 559,000 Jobs In May But Labor Recovery Far From Over
June 04, 2021 07:46 PM PDT| By Team Kalkine MediaSummary Number of new jobs grew up by 559,000 in May, double that of April. Still, it may take more than a year for full recovery of the job market. The US had over 9.3 million unemployed people in May. US employers added 559,000 jobs in .....
Will Government’s New Building Law Create More Affordable Housing in New Zealand?
June 03, 2021 10:33 PM PDT| By ManikaSummary The New Zealand government introduces first set of reforms in the Building Act. Changes passed in the Parliament. Aims to boost housing supply for first home buyers. With a view to give a boost to building activity and housing sup.....
New Zealand Government’s Accounts In Better Shape, But Yet To Attain Pre-Pandemic Level
June 02, 2021 07:37 PM PDT| By SonalThe Treasury released the interim Financial Statements of the Government of New Zealand for the 10 months ended 30 April 2021 on Thursday. The core Crown tax revenue result shows the strength of present economic conditions, which outperform the Budg...
