New Zealand’s economy grew at a snail’s pace for a second consecutive quarter following 15 months of recession, official figures showed yesterday.
GDP rose 0.2 percent in the July to September quarter from the previous quarter, when it had also grown 0.2 percent, Statistics New Zealand said in a statement.
The economy contracted 1.3 percent for the 12 months through September.
“The economy continued to grow slowly in the September 2009 quarter, and the picture across industries was mixed,” said the agency’s national accounts manager, Rachael Milicich.
The growth for the third quarter was slower than the 0.3 percent to 0.4 percent expansion forecast by economists.
Mining grew 11.1 percent, driven by an increase in both extraction — mainly oil production — and exploration, while real estate and business services were up 2.2 percent.
On the downside, construction activity fell 4.4 percent to record its sixth decrease in the last seven quarters, while manufacturing was down 1.9 percent.
Household spending rose 0.8 percent in the July to September quarter, the agency said.
Meanwhile, Brazilian officials are lowering their economic-growth predictions for this year but expect South America’s largest economy to expand 5.8 percent next year.
The Brazilian Central Bank says it expected the nation’s GDP to grow 0.2 percent this year, down from its September prediction of 0.8 percent.
Officials say Brazil’s economy began recovering from the global crisis beginning in the second and third quarters of this year.
The Central Bank said in its statement on Tuesday that inflation for next year could be higher than its current prediction of 4.5 percent.
Inflation this year is estimated at 4.3 percent.
The Thai government on Friday announced that Taiwanese would be allowed to stay in the country for up to 60 days per entry, under the Southeast Asian country’s visa-free program starting from today. Taiwan is among 93 countries included in the Thai visa-waiver program, which has been expanded from 57 countries, with the visa-exempt entry extended from 30 to 60 days. After taking office last year, Thai Prime Minister Srettha Thavisin has vowed to grant more visa waivers to foreign travelers as part of efforts to stimulate tourism. The expanded visa-waiver program was on Friday signed by Thai Minister of the Interior Anutin
CHIPS AND DEFENSE: Trump said the US had lost its chip business and Taipei should pay it for defense, and added that ‘we’re no different than an insurance company’ Taiwan-US relations are solid, and both sides are in agreement that peace and stability in the Taiwan Strait and the Indo-Pacific region are everyone’s concern, Premier Cho Jung-tai (卓榮泰) said yesterday following comments by former US president Donald Trump that Taiwan “should pay” for US defense. Taiwan is thankful to the US for supporting Taiwan’s bid to participate in international organizations, Cho told a news conference in Taipei. “I know the people very well, respect them greatly. They did take about 100 percent of our chip business,” Trump told Bloomberg on June 25 in an interview that was published on Tuesday. “I think
SHOW OF SUPPORT: Taiwan has been one of the largest buyers of US defense equipment, supporting American businesses and jobs, US lawmakers said Taiwan has been paying for its own defense, a US Department of State official said on Wednesday, adding that purchases of military equipment are important to the US economy and for ensuring regional security. State Department spokesman Matthew Miller was asked at a news conference about comments by former US president Donald Trump, the Republican nominee in November’s US presidential election, who said during an interview with Bloomberg Businessweek that Taiwan should pay Washington for its defense needs. “The purchases that they [Taiwan] have made not only are important, we believe, to regional security, but are important to the United States economy,”
SECURITY CONCERNS: An FBI agent said it was surprising that the shooter, whose motive remains unknown, was able to open fire before the Secret Service killed him On the heels of an apparent attempt to kill him, former US president Donald Trump yesterday called for unity and resilience as shocked leaders across the political divide recoiled from the shooting that left him injured, but “fine,” and the shooter and a rally-goer dead. The presumptive Republican presidential nominee said the upper part of his right ear was pierced in the shooting His aides said he was in “great spirits” and doing well. “I knew immediately that something was wrong in that I heard a whizzing sound, shots, and immediately felt the bullet ripping through the skin. Much bleeding took place,” he