Economic Indicators Index negative for NZ economy

Business NZ’s quarterly Economic Conditions Index has hit the second lowest level since the Index began in 2000.

The Index for February 2009 is currently on minus 11, down 16 from this time last year.

The Economic Conditions Index (ECI) is a composite index of 32 indicators, including GDP, export volumes, commodity prices and inflation, debt and confidence figures.

This quarter’s ECI reflects New Zealand’s situation in relation to the collapse in world demand for goods and services, high exposure to overseas debt and a number of other negative indicators.

The ECI for February 2009 is here on www.businessnz.org.nz