NZ ‘recovery’ now a reality?

EditorNews Make a Comment

AUCKLAND, Today: The Recovery in NZ is fast becoming a reality, judging by an unprecedented slew of new agency and media appointments in Auckland, Wellington, and Christchurch.

In total, six companies have today announced a remarkable nine new hires – every one of them a senior position. (Scroll down the page to see them all.)

“We’ve not seen anything like this for many years,” M+AD ed David Gapes said. “We’ve certainly never run nine new appointments stories in the same issue. That really says something.”

“We’ve not seen anything like this for some years.”

Stuff reported that New Zealand’s economy bounced back strongly from recession in the third quarter of 2020, achieving a so-called V-shaped recovery as massive fiscal and monetary stimulus fuelled consumer spending.

Gross domestic product surged 14% from the second quarter, when it contracted a revised 11%, Statistics New Zealand said Thursday in Wellington. Economists forecast a 12.9% gain.

From a year earlier, the economy grew 0.4%, confounding the consensus forecast for a 1.8% decline.

New Zealanders have gone on a spending spree since May amid projections of a higher jobless rate higher in 2021.

Share this Post