21 Apr 2009

Green shoots in poor economic climate

7:41 pm on 21 April 2009

A wrap of economic data shows while the economy is still weak, there's reason for hope.

Business New Zealand's Economic Conditions Index rates overall conditions at -5 in the March quarter, an improvement on the previous quarter's -9.

An economist at Business New Zealand John Pask says many indicators have hit rock bottom, suggesting the worst is over.

The latest figures show more people are staying put in New Zealand as the global downturn reduces their chances of finding work overseas.

Statistics New Zealand says net migration increased by 1700 in March, the second consecutive monthly rise, due to fewer kiwis leaving home.

An economist at ASB, Jane Turner says that partly offset a seasonally adjusted 3.5% fall in tourist numbers.