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“If you can’t fly then run, if you can’t
run then walk, if you can’t walk then
crawl, but whatever you do you have
to keep moving forward.”

October 6, 2015 | Latest News

Difference in Banks

Interesting to note the difference in opinion of two of the major banks. The ASB are saying that at best, consumer confidence is holding but generally tending down ward. While the BNZ are saying things are steady or improving. Quite a difference in opinion for such a small country.

So why the difference? The ASB approach seems to be based on the general feeling of the economy and that companies growth predictions are not exceeding the GDP, generally around the 2.0% mark. While the BNZ have broken down their comments among 16 sectors of the economy.

The problem with that, is most respondents seem to appear in the major cities and it is difficult to overlay how Hawke’s Bay compares by comparison. Although in the Bay, the economy for the year to date June 2015 was considered to have grown by 2.9%, which was about 2.0% up on GDP growth for year to date June 2014.