New Zealand's second largest city of Christchurch last week's 6.3 magnitude earthquake not only caused hundreds of casualties, but also a tremendous impact on the country's economy. Because the local residents in need of repair housing damaged, thereby affecting their consumption and, many businesses that difficult to do business.
disaster in Christchurch, in addition to hotels, the slump. Sue Hunter admits the hotel business, the earthquake brought to the industry, the completion of the new search and rescue of passengers and deterred, expected business will be affected.
street Driving a cab, Barry Easton says with resignation that then there will be no worry about the business unsustainable. Many local people have suffered losses in the earthquake, more will reduce the New Zealand Finance Minister and Deputy Prime Minister
British Geli Xi before the earthquake in the country is expected to grow by 3% this year, but because of Christchurch New Zealand's GDP accounted for 15% of the national total, the earthquake triggered market, the pace of economic recovery in the country questioned. Preliminary estimates of local financial sector, the insurance industry will take over 10.6 billion Singapore dollars of natural disasters compensation, will seriously affect the insurance industry.
New Zealand currently has debt, at the end of September 2010 in the 12 months, New Zealand current account deficit amounted to $ 4,480,000,000. Previously, as international crude oil prices, increasing inflation expectations in New Zealand, New Zealand's central bank to market forecast in the third quarter and fourth quarter, rate hike. However, Citigroup issued a report on the disaster, said the earthquake would impact the New Zealand economy, rate hike may be delayed to 2012. The foreign exchange market to sell New Zealand dollars in the disaster there was a trend, that the market is worried about a recession in New Zealand after the disaster.
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