Trading successfully in a low-growth economy
Sharon Davis takes a look at New Zealand's short-term economic outlook and asks business experts for their tips for trading in a low-growth economy.
New Zealand's economy contracted in 2008 and 2009 on the back of the global financial crisis, entering a period where GDP output fell, as opposed increasing year-on-year. In 2010 we hauled ourselves out of the recession, but GDP growth was a moribund 1.8% and 1.4% to 2011 and only slightly healthier, at 2.4%, in 2012.
The good news is that we appear to be firmly back in the territory of positive growth, but the recovery from the ripple effects of the global financial meltdown is likely to be slow and protracted with expectations of growth at 2.5% for 2013, and forecasts of around 2.7% and up to 3.1% for 2014.
"The global economy is still fragile, especially our traditional markets in the UK, Europe and Japan. Australia is also coming off the boil. But there are encouraging signs of rebounding activity in the US, and Asia is robust," says Shamubeel Eaqub, principal economist for the New Zealand Institute of Economic Research.
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Formed in February 2001 with the goal of developing and marketing simple, non-invasive tools to detect cancer, the Dunedin-based company listed on the NZX in 2002 and spent many years developing exclusive technology licences, obtained from the University of Otago, to develop a viable product range for the early detection and management of target cancers.
After more than 10 years’ research and development, and an accumulated loss of NZ$ 28.5mn, Pacific Edge has a patented, and tested, an accurate urine-based test for bladder cancer called Cxbladder. It’s already commercially available in New Zealand, Australia, Spain and Portugal with a diagnostics laboratory in New Zealand diagnostic partners servicing the other countries.