Weekly Digest – 13 September 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Businesses relieved to be rid of COVID traffic light system
As of September 12, the government has done away with the traffic light system of safety protocols meant to curb the spread of COVID-19. Retailers are grateful for the “long overdue” change.
BusinessNZ not in favour of public holiday
Government announced that New Zealand will observe a public holiday on September 26 to mourn and honour Queen Elizabeth II. However, not everyone is enthused – BusinessNZ says that a forced closure will be hard on already-suffering businesses.
Economists uncertain about upcoming GDP figures
GDP figures for the three months ending in June are due this week. Forecasts vary widely among economists, with some expecting growth and others certain of contraction.
Proof of vaccination no longer required to enter New Zealand
Most COVID protocols were dropped this week, including the requirement to show proof of vaccination to enter New Zealand. Details can be found here.
Price of groceries likely to stay high
Recent data suggests that there is no relief coming at the supermarket. Due to increasing pressure on suppliers, the cost of your weekly grocery shop is expected to stay high for quite some time.
More than 100,000 overseas visitors welcomed in July
Stats NZ figures are in for July and they show that, for the first time since the beginning of the pandemic, there were over 100,000 visitors to New Zealand. The tourism boost is expected to help the economy.
NZ Super suffers value drop
Volatile financial markets, high inflation, and rising interest rates have caused the New Zealand Superannuation fund to fall by nearly 7 percent – a loss of $3.3 billion.
Businesses worried about continuing “brain drain”
Net migration numbers were negative for the year. In an extremely tight labour market, businesses are worried about attracting workers as more people leave the country than arrive.
No plans to scrap existing currency
With the death of Queen Elizabeth II on September 8, Commonwealth nations around the world began to wonder what will happen to the existing coins and notes that bear the queen’s likeness.
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.