Fortress Financial Services Puts Faith in the New Zealand Economy

Dubai (PRWEB) February 13, 2013

The New Zealand Institute of Economic Research (NZIER) recently forecast that the countrys economy is forecast to log annual growth of 2.5% over the next three years. Secretary to the Treasury Gabriel Makhlouf says the Treasury is forecasting the pace of GDP growth to strengthen throughout 2013, but cautions that growth will be uneven and variable across sectors and regions. “The Canterbury rebuild, low borrowing costs, and ongoing demand and strong prices for New Zealands primary exports will all help support economic growth in the medium term,” Mr Makhlouf said. The economy is currently estimated to expand 2.3 percent in the year ended March 2013, slower than 2.4 percent forecast earlier.

Hamed Mokhtar, Managing Director of Fortress Financial says Construction is projected to account for over half the countrys growth over the next twelve months. The Canterbury rebuild, which is expected to top $ 30 Billion, will be the driving force for the economic recovery that has struggled to recover from its deepest recession in two decades and has been supported by a resurgent property market in Auckland in recent months. Exports will continue to be hampered by a strong NZ dollar, but the country is projected to continue to benefit from equity investors seeking to purchase Australasian assets that continue to beat fixed-income returns. Says Hamed Mokhtar

Central bank Governor Graeme Wheeler kept the official cash rate at 2.5 percent last month and signaled he will be monitoring the economy for signs of emerging pressure on inflation. Rising property values and record-low

Tags: , , , , , ,

Comments are closed.

Spanish Crisis Triggers Real Estate Price Collapse

Baltimore, MD (PRWEB) June 29, 2012 A move by Spanish banks to offload the build-up of foreclosed properties on their [...]

Self Storage Provider Coronado Mobile Storage Joins Forces with LAD Solutions in Promoting Storage Containers as Mobile Offices

San Diego, CA (PRWEB) July 03, 2012 With the collapse in real estate prices and explosive growth in home foreclosures [...]


Real Estate Prices LOFTS DOWNTOWN LOS ANGELES FOR SALE AND LEASE RENTALS. LA loft prices and market report Corey Chambers, [...]

Mortgage Rates Drop to New Record Lows Influencing Increase In Refinancing and Home Building Activity According to

Wilmington, NC (PRWEB) July 24, 2012 Mortgage rates have reached a new historical low point for 30 year fixed, 15 [...]

NFIB Stated Confidence in Small Business Takes a Steep Drop XSM Services aimed to Restore Faith

Denver, Colorado (PRWEB) January 30, 2013 After the recession took its toll on the U.S. economy, the fiscal cliff and [...]

Junior State of America Releases Winter 2013 Edition of Student-Run Magazine, The Junior Statement

Washington, DC (PRWEB) January 31, 2013 The Junior State of America (JSA) today released the Winter 2013 Edition of The [...]