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 government is aiming to recruit 1,096 foreign English teachers and teaching assistants this year, the Ministry of Education said yesterday. The foreign teachers would work closely with elementary and junior-high instructors to create and teach courses, ministry official Tsai Yi-ching (蔡宜靜) said. Together, they would create an immersive language environment, helping to motivate students while enhancing the skills of local teachers, she said. The ministry has since 2021 been recruiting foreign teachers through the Taiwan Foreign English Teacher Program, which offers placement, salary, housing and other benefits to eligible foreign teachers. Two centers serving northern and southern Taiwan assist in recruiting and training
WIDE NET: Health officials said they are considering all possibilities, such as bongkrekic acid, while the city mayor said they have not ruled out the possibility of a malicious act of poisoning Two people who dined at a restaurant in Taipei’s Far Eastern Department Store Xinyi A13 last week have died, while four are in intensive care, the Taipei Department of Health said yesterday. All of the outlets of Malaysian vegetarian restaurant franchise Polam Kopitiam have been ordered to close pending an investigation after 11 people became ill due to suspected food poisoning, city officials told a news conference in Taipei. The first fatality, a 39-year-old man who ate at the restaurant on Friday last week, died of kidney failure two days later at the city’s Mackay Memorial Hospital. A 66-year-old man who dined
EYE ON STRAIT: The US spending bill ‘doubles security cooperation funding for Taiwan,’ while also seeking to counter the influence of China US President Joe Biden on Saturday signed into law a US$1.2 trillion spending package that includes US$300 million in foreign military financing to Taiwan, as well as funding for Taipei-Washington cooperative projects. The US Congress early on Saturday overwhelmingly passed the Further Consolidated Appropriations Act 2024 to avoid a partial shutdown and fund the government through September for a fiscal year that began six months ago. Under the package, the Defense Appropriations Act would provide a US$27 billion increase from the previous fiscal year to fund “critical national defense efforts, including countering the PRC [People’s Republic of China],” according to a summary
‘CARRIER KILLERS’: The Tuo Chiang-class corvettes’ stealth capability means they have a radar cross-section as small as the size of a fishing boat, an analyst said President Tsai Ing-wen (蔡英文) yesterday presided over a ceremony at Yilan County’s Suao Harbor (蘇澳港), where the navy took delivery of two indigenous Tuo Chiang-class corvettes. The corvettes, An Chiang (安江) and Wan Chiang (萬江), along with the introduction of the coast guard’s third and fourth 4,000-tonne cutters earlier this month, are a testament to Taiwan’s shipbuilding capability and signify the nation’s resolve to defend democracy and freedom, Tsai said. The vessels are also the last two of six Tuo Chiang-class corvettes ordered from Lungteh Shipbuilding Co (龍德造船) by the navy, Tsai said. The first Tuo Chiang-class vessel delivered was Ta Chiang (塔江)