23 May 2016

New Caledonia economy picks up, while confidence down

8:36 am on 23 May 2016
Port of Noumea, New Caledonia.

Port of Noumea, New Caledonia. Photo: RNZ / Johnny Blades

New Caledonia's economy slowly picked up in 2015, according to analysis by the agency that issues the currency for the French Pacific territories.

The Institut d'émission d'outre-mer said the business climate was improving overall, with relatively low inflation, although the territory's employment record was mixed.

It said the recovery was mainly driven by household consumption, in line with that in metropolitan France.

However, it said business confidence in New Caledonia was deteriorating and job demand is at its highest level in a decade.

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