Here are the key things you need to know before you leave work today.
FEBRUARY HOUSING MARKET MIXED
The benchmark REINZ data for Febuary had mixed results. Volumes were down 7.6% from the same month a year ago, but median prices were up 8.2%. That price rise was faster than the January increase, however the changes are more Auckland driven this month, and more by the market top-end.
GOVERNMENT ACCOUNTS
The seven month Govt accounts were also mixed; the surpluses returned but they were less than budgeted. GST and business taxes were a drag. However Bill English says the yare still on track for a 2014/15 surplus.
FREE SPENDING
Electronic card transactions were stronger in February, fuelled by spending on hospitality.
NEW NZ BUSINESS NUMBERS
The Government today formally launched the New Zealand Business Number (NZBN), designed to make it easier for businesses to work with government. It is proposed that a single identifying number is assigned to all businesses, government agencies and commercial entities in New Zealand. New Zealand Business Numbers were initially allocated to companies in December last year; and the Government today announced a month-long consultation on options for extending coverage to other businesses, including sole traders. “Having a single business number means that by 2016 businesses will only have to provide government with their information once, which will automatically be shared across government agencies. That will make it easier, quicker, and less complicated for businesses dealing with the Government,” Stephen Joyce said.
MORE MILK COLLECTED
Milk flows reported by Fonterra to the end of February are at record levels despite the growing dryness. They are up 4.9% over last year and trump all aother previous season.
NEW CEO FOR SOLID ENERGY
Solid Energy has found someone to lead its troubled business, and Aussie.
WHOLESALE RATES
Swap rates consolidated today, slipping back 2 or 3 bps acroos the whole curve. The 90 day bank bill rates eked out a tiny upward lift to 3.0%. Things are essentially on hold now, waiting for Dr Wheeler on Thursday.
OUR CURRENCY
The NZD was up slightly against the American and Australian currencies today, at US84.7c and A93.52c respectively but the TWI is down a touch at at 79.25.
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