GDP grows 0.8% in March quarter, but fuel crisis fall out still to be seen | St…

GDP grows 0.8% in March quarter, but fuel crisis fall out still to be seen | Stuff.co.nz <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":1,"label":"Economy grows, but challenges loom","summary":"New Zealand's economy saw a solid start to the year, with manufacturing contributing to a 0.8% growth in the March quarter. However, business confidence is being impacted by the fallout from the conflict in Ukraine."},{"timeSeconds":21,"label":"Christchurch Airport opens $40 million facility","summary":"Prime Minister Christopher Luxon officially opened a new $40 million freight facility at Christchurch Airport. He highlighted the importance of the upgrade for unlocking growth in the South Island."},{"timeSeconds":49,"label":"Economic growth forecast and investment boost","summary":"The government expects the economy to grow by 2.7% over the next four years, exceeding growth in the EU and Australia. Business investment is up 3.6%, attributed to the government's tax policy."},{"timeSeconds":106,"label":"Finance Minister optimistic about economic efforts","summary":"Finance Minister Nicola Willis expressed optimism that government efforts, including investment tax credits, are paying off. She believes these measures are supporting firms and encouraging new investment."},{"timeSeconds":117,"label":"GDP data misses geopolitical impacts","summary":"The March quarter GDP figures do not yet reflect the full impact of the Middle East conflict. This is evident in a recent survey of Auckland businesses showing decreased confidence."},{"timeSeconds":135,"label":"Auckland business confidence declines","summary":"A survey by the Auckland Business Chamber reveals a significant drop in business confidence. Negative confidence rose from 25% to 54%, and expectations of economic decline more than tripled."},{"timeSeconds":153,"label":"Auckland Business Chamber CEO's outlook","summary":"Simon Bridges, CEO of the Auckland Business Chamber, acknowledges that while things were moving forward, the war has impacted progress. He suggests that a return to pre-war conditions is unlikely soon."},{"timeSeconds":206,"label":"Economist predicts potential GDP decline","summary":"An ASB economist suggests that the impact of rising fuel costs and reduced consumer spending could lead to a GDP decline in the next quarter. This is due to consumers having less disposable income."}]} <!--/mynz:youtube-chapters-->