Roger J Kerr says the constant stream of weaker economic outcomes in New Zealand has not resulted in a weaker NZ dollar over the last 12 months because NZ interest rates are expected to stay higher for longer, relative to US interest rates
Roger J Kerr says price action in global currency markets since the US Federal Reserve’s 'hawkish pause' on interest rates has been telling and instructive as to future direction
Roger J Kerr says the NZ dollar's performance has been marginally better than many have expected, based on the impending economic recession in New Zealand, coupled with an external Current Account deficit blow-out
Irish economy shrugs off toughest restrictions in EU to post 2020 growth Export growth pushes GDP up 3.4% but Covid-19 pandemic hits domestic economy hard
Fri, Mar 5, 2021, 12:03 Updated: Fri, Mar 5, 2021, 12:35
The Irish economy grew by 3.4 per cent in 2020, despite one of the toughest pandemic related lockdowns in Europe, on the back of record growth in the export sector.
However, the domestic sector contracted by 5.4 per cent, as Covid-19 restrictions hit.
According to final year national accounts from the Central Statistics Office, gross domestic product (GDP) grew by 3.4 per cent in the year. This is ahead of a projection from the European Commission in February, which forecast growth of 3 per cent for the Irish economy for 2020. Ireland was the only European Union economy to post positive growth last year, with an average contraction across the EU of 6.8 per cent. GDP fell by 5.1 per cent in the fourth quarter of 2020.