InfoAnda - NZ unexpectedly emerges from recession in Q2

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Mrs. Obama says veterans' skills can help at home | 12 November 2009
Man detained near George W. Bush's home | 23 December 2010
Indonesia challenges EU over duties at WTO | | 30 July 2012

Actor Tim Allen greets his 2nd child, Elizabeth | 30 March 2009

Forum Views () Forum Replies ()

Read more with google mobile : NZ unexpectedly emerges from recession in Q2

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World NZ unexpectedly emerges from recession in Q2 Reuters - Wednesday, September 23 Send IM Story Print * Q2 0.1 pct growth surprises after 5 qtrs of contraction * NZ economy still 2.1 pct smaller than a year ago * Pressure seen increasing on cenbank to advance rate hikes * Markets sees greater chance of a rate rise in January * NZ dollar surges, debt sold after data By Mantik Kusjanto WELLINGTON, Sept 23 - New Zealand's economy unexpectedly grew in the second quarter, ending its longest recession on record and raising expectations the central bank may start raising interest rates as soon as January. The kiwi dollar jumped after data showed gross domestic product rose a seasonally adjusted 0.1 percent in the second quarter, compared with a revised 0.8 percent drop in the previous three months and ending five straight quarters of contraction. Economists in a Reuters poll had forecast a 0.2 percent contraction, while the Reserve Bank of New Zealand had predicted a 0.1 percent fall. Growth was driven by gains in domestic consumption and primary industries, including forestry and mining, which analysts said may prompt the RBNZ to reconsider its stated policy of keeping rates at record lows until late 2010. "The market is going to continue to push for the bank to tighten policy much sooner than what the bank is currently stressing," said Deutsche Bank chief economist Darren Gibbs. Markets now see an 80 percent chance of a quarter point rate rise in January, up from less than 50 percent before the data, according to overnight indexed swaps. An increase in March has already been fully factored in. The New Zealand dollar <NZD=D4>, a favourite of international investors seeking higher returns, surged more than 1 percent to a near 14-month high of $0.7315, before settling back to around $0.7265 at 0415 GMT. Bank bill futures <0#NBB:> sold off by as much as 20 basis points, while one- and three-year swap rates <NZDIRS> both jumped 6 basis points to 3.22 percent and 4.87 percent respectively. For a related graphic on the GDP data, double click: http://graphics.thomsonreuters.com/099/NZ_GDP0909.gif PRESSURE ON RATES The RBNZ's oft-stated intention to hold rates at current or lower levels was seen as under further pressure from the data. "The bank will need to normalise rates sooner than the market had discounted," said Sue Trinh, a senior currency strategist at RBC capital Markets. The RBNZ had said in its latest statement on Sept. 10 it "would expect to eventually tighten monetary policy, if the economy recovers as projected", although it projected only a "patchy recovery" with a weak an uncertain outlook. The central bank slashed its cash rate by 575 basis points between July 2008 and April this year to 2.5 percent to support the economy, but has been on hold since then. A Reuters poll, conducted before the GDP data release, had a majority of the 14 economists expecting the next move to be a hike in the middle of 2010. As the possibility of an early RBNZ hike comes into view, short-term rates are expected to keep rising more quickly, causing the swap curve to flatten. The one-/three-year spread is at 165 basis points, near a record peak of 170 basis points reached in August. A Credit Suisse measure <CSRBNZ1Y=CSAU> shows the market is now pricing in around 150 basis points of tightening for the next 12 months, up from 126 basis points early this week. CAUTION Finance minister Bill English said the economy was through the bottom of the trough and was stabilising, but still faced pain. Despite marginal quarterly growth, the economy shrank 2.1 percent from a year earlier. "However for most people the real measure of recession is unemployment, which is expected to keep rising for some time yet," English said after the data release. Unemployment hit a six-year high of 6 percent in the second quarter and is expected to rise as high as 7.5 percent next year. Household consumption, which makes up around 60 percent of the economy, increased 0.4 percent in the June quarter, the first increase since December 2007 quarter. New Zealand also reported this week migration gains hit a five-year high while dairy giant Fonterra posted stronger export demand and raised its payout to farmers by 12 percent, worth around NZ$700 million extra for the economy in the coming year. (Additional reporting by Gyles Beckford, Adrian Bathgate and Catherine Trevethan) Recommend Send IM Story Print Related Articles BP settles spill containment violations AP - Wednesday, September 23 General Motors raising output at 3 factories AP - Wednesday, September 23 Intel CEO: PC sales could rise in 2009 AP - Wednesday, September 23 Ascent Solar shares rise on new supply deal AP - Wednesday, September 23 United Airlines furloughs 290 pilots AP - Wednesday, September 23 News Search Top Stories Fed remains in stimulus mode but eyes exit strategy Hand-washing, masks, quarantine keep viruses at bay Chess legend Kasparov takes lead in rematch vs. Karpov Obama warns Israel, Palestinians to move on talks Bulgarian wins top UNESCO job after anti-Semitism row More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Legendary Soviet spy mistress dies aged 97: official Chess legend Kasparov takes lead in rematch vs. Karpov Ex-Samsung chairman pays $91 million fine US Democratic fundraiser ran Ponzi scheme: prosecutor Kasparov, Karpov re-match seeks to put chess back in spotlight More Most Viewed » Ozone hole smaller in 2009 than 2008: WMO Poignant final farewell as Jackson laid to rest Remains of Jesus-era synagogue found in Israel Implanted tooth helps blind US woman recover sight Nanoparticles could pose threat to humans: scientists More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Search Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Wednesday, 23 September 2009
Obama urges restart of Mideast negotiations
Twitter's Stone says no ads in 2009
Seven killed in Iran plane crash: report
Yahoo to kick off new branding campaign
Iran hails nuclear advance ahead of talks with big powers
Citi, UBS, Deutsche Bank fined over Vonage IPO
Obama issues stern challenge on Mideast peace | International |
Clinton rebuffs general's warning on Afghanistan
Archaeologists find suspected Trojan war-era couple
Officials: Israel to boycott Ahmadinejad UN speech
Mexico cartels kidnap, kill migrants headed to U.S. | International |
Raul Castro pushes Cubans to rethink socialism | International |
2 officers fired after Tasering parade driver, 76
Correction: Virginia Killings story
Consumer items shielded from health care taxes
Death sentence upheld in Dru Sjodin abduction case
Auchincloss pleads not guilty in child porn case
FDIC could seek bailout from banks
NYC trains raise security after terrorism warning
Twitter's Stone says no ads in 2009 | Technology |
Police: Off-duty officer fatally shoots wife, self
Yahoo to kick off new branding campaign | Technology |
FDA: 'limited' benefit with tamper-proof OxyContin
RIM's updated BlackBerry could brighten outlook | Technology |
New stamps for 4 Supreme Court justices
Afghan officials live in fear of Taliban assassins
81-year-old Thai king kept in hospital with fever
Deeper relationship with China urged
Japanese PM pledges deep greenhouse cuts
Tensions rise as police question monk's followers
China positive on N.Korea developments
China finds new section to its Great Wall: report
Japanese PM proposes East Asian community to China
Silicon Valley reinvents the lowly brick | Technology |
Former Indian army soldier accused of spying
Cambodian court convicts 2 journos of defamation
Tough Indian market lures German auto groups
Global downturn hampers Sri Lanka's peace dividend
US-ENTERTAINMENT Summary
Exhibit gives a back room glimpse of World War Two
Chess legends Kasparov and Karpov face off again
Burberry to close star-studded London Fashion Week
Eminem's music publisher takes Apple to court
Anna Nicole prescription was pharmaceutical suicide | Entertainment |
Heather Locklear to return to Melrose Place | Entertainment |
The top 10 singles and albums on iTunes
San Sebastian film fest turns eye on blind faith
New Dan Brown novel tops 2 million mark
Kurdish to be spoken for first time in Turkish theatre
Heather Locklear will join updated 'Melrose Place'
Photographers sue Bundchen, Brady over shooting | Entertainment |
Mad Men and 30 Rock win top Emmys, again | Entertainment |
Murray Perahia -- When the piano man can't play | Entertainment |
Exhibit gives a back room glimpse of World War Two | Entertainment |
Chess legends Kasparov and Karpov face off again | Entertainment |
Iranian leader says he'll seek leniency for hikers
Britain's Brown to offer to cut nuclear sub fleet
Honduras standoff at Brazil embassy set for long haul | International |
Intel CEO says looks beyond PCs as market matures
Fed remains in stimulus mode but eyes exit strategy
Ahmadinejad tells AP Iran is an opportunity for US
AP interview: Iranian backs off Holocaust denial
Chess legend Kasparov takes lead in rematch vs. Karpov
Iran says it is open to nuclear weapons discussion
Iranian leader offers to help in Afghanistan
Delay sought in Google book case
Hand-washing, masks, quarantine keep viruses at bay
Obama issues stern challenge on Mideast peace | International |
New mystery surrounds Arctic Sea's destination
Iran hails nuclear advance ahead of talks with big powers
RIM's updated BlackBerry could brighten outlook
Al Qaeda releases new 9/11 video showing Zawahri | International |
U.S. closes Mexico crossing after shooting | International |
French smear trial hears of Al-Qaeda trick
Obama warns Israel, Palestinians to move on talks
Obama issues stern challenge on Mideast peace
France bulldozes migrant 'jungle'
Britain preparing for possible Afghan troop hike | International |
Facebook, Nielsen team up to measure ad performance
Bulgarian wins top UNESCO job after anti-Semitism row
French, US firms ally for electric car batteries
Ahmadinejad warns against any attack on Iran | International |
Besieged Zelaya surrounded by Honduran soldiers
EU court adviser backs Google in ads row with LVMH
Insurgents recruit teens at sports clubs, schools | International |
Dust storm blankets Sydney as drought bites | International |
Large gaps cloud Mideast peace efforts
US lawmakers hold off on new Iran sanctions
Annual Clinton Global Initiative opens
Fla. man charged in slayings of wife, 5 kids
AP source: Libyans pitch tent outside NYC
Democratic chairman pushes for health care changes
Venezuela captures drug suspect wanted by US
Iran says wants abolition of nuclear weapons-Japan
AZ corrections workers disciplined in inmate death
Girls school attacked in troubled NW Pakistan
U.S. sting targets Mexican drug trade
China shuts Tibet to foreigners before anniversary
China sends fuel to Iran as U.S. sanctions loom
Obama presses China for help on Iran, NKorea
Dalai Lama starts US tour with fist-bump
Intel CEO says looks beyond PCs as market matures | Technology |
Obama, Hu vow to forge dynamic ties
Policy center urges deeper US-China relationship
Microsoft developing new tablet PC device-report | Technology |
Australian PM calls for 'grand bargain' on climate
Palin emerges in Asia with speech to investors
S.Korea spotted buying dollars to cap won-dealers
NZ unexpectedly emerges from recession in Q2
South Korea approves sale of iPhone
SKorea's top banker quits over massive losses
South Korea approves sale of Apple's iPhone
China's Geely raises Goldman cash, mulls Volvo bid
S.Korea sees tax revenue recovering in 2010
China pushing for bigger IMF role at G-20
Taiwan dollar hits 3-mth high on exporters, funds
Lightning strikes two more actors for "Thor"
FX's 'Damages' expands cast with Short, Scott
French rogue trader takes to Riviera stage
Actual people physically gather to talk Twitter
"Cougar Town" not likely to seduce viewers
Sarah Michelle Gellar, husband welcome baby girl
Megan Fox "Transformers" costume up for auction
Modern Family breathes new life into sitcom | Entertainment |
Lawyer outraged at claims against Smith's doctor
U2 manager delighted to bring stage show full circle | Entertainment |
Eastwick shows promise but doesn't yet cast spell | Entertainment |
Send in the Clowns: Zeta-Jones makes Broadway bow
Megan Fox Transformers costume up for auction | Entertainment |
London designers go bright and bold
Titanic prepped to set sail as 3D reissue | Entertainment |
Send in the Clowns: Zeta-Jones makes Broadway bow | Entertainment |
Cougar Town not likely to seduce viewers | Entertainment |
Israeli FM: Summit a victory for settlement stand
Date Check turns smart phones into "sleaze detectors"
Merkel eyes centre-right as election nears | International |
US-TECH Summary
Doubts loom large after Obama's Mideast summit | International |
Microsoft developing new tablet PC device-report
Qaeda's Zawahri attacks Obama, Arabs in new video | International |
Dutch pilot held over Argentine death flights | International |
China army parade may give clue to new missiles | International |
In France's jails, a toxic mix of grime and despair | International |
Berlusconi government under fire over fraud amnesty plan | International |
Stun-gun maker Taser blogs to beat bad buzz | Technology |
Apple, Eminem may face trial over music downloads | Technology |
Best Buy to sell iRex e-reader this fall | Technology |
The Nation's weather
SKorean court upholds conviction for Roh's brother
Twitter's Stone says no ads in 2009 | Technology |
Death toll at 10 as Southeast floods start to ebb
Australian navy thwarts Somali pirates: officials
Gandhi murder convict wins parole review: report
States where jobless could get extended benefits
House bill adds to jobless benefits in 27 states
Obama tries to reclaim debate on financial reform
Complaint suggests NYPD misstepped in terror probe
Senate Democrats propose surveillance law changes
Australia mulls Kenyan women's 'circumcision' case
Australia intercepts 7th refugee boat this month
China prepares to ship museum treasures to Taiwan
U.S. closes Mexico crossing after shooting
NY's Gillibrand seeks fund release for day cares
SKorea launches missile boats to guard NKorea border
Vietnam Communist Party Web site fined
China makes landmark pledge to curb CO2 emissions
Thai leader says US moving toward engaging Myanmar
Ford to make four-door compact car in India
Seoul shares fall; Hynix tumbles, automakers rise =2
Seoul shares fall; Hynix tumbles, automakers rise
India tells G20 'world economy not out of woods'
SKorea's LG Chem plans 2.5 bln dlr investment
Venus Remedies outlicenses antibiotic to Korean firm
S.Korea money market funds fall amid won surge
FACTBOX-Pakistan's economy
Q+A-What prospects for Pakistan's President Zardari?
Apple, Eminem may face trial over music downloads | Entertainment |
"Modern Family" breathes new life into sitcom
"Titanic" prepped to set sail as 3D reissue
Over 300 killed in Indonesia Eid road exodus: police
"Eastwick" shows promise but doesn't yet cast spell
Ireland celebrates 250 years of Guinness
Singapore backs Beyonce to pull in punters
"Endings" begins for Hopper, Caan
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01