NZ PM Arden blames economic slowdown on global conditions

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New Zealand (NZ) Prime Minister Jacinda Arden was on the wires earlier today, via Reuters, expressing her take on the economy in the Parliament.

During her speech, Arden blamed an economic slowdown in New Zealand on global conditions.

 She added that the NZ GDP growth currently sits at 2.6%.

Key Quotes:

When you look at what other countries are experiencing, particularly Australia, China, the EU, and the UK – [they are]in a particularly bad state.

“There’s no doubt that the international trading environment is causing a change in investment confidence, and that impacts on us – undeniably that impacts on us.”

Impacts on investment decisions and the uncertainty in the international environment “is changing confidence levels and it is changing investment decisions.”

National leader Simon Bridges grilled the PM on the economy in Parliament. He said while New Zealand’s purchasing power is higher than it’s been for years, GDP per capita is low. 

Meanwhile, the NZD/USD pair continues to defend minor bids near 0.6535 region so far this Wednesday. 

 

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