The New Zealand Treasury notes that.....>

NEW ZEALAND: The New Zealand Treasury notes that "following an unprecedented

drop in April and a strong rebound in May, the latest New Zealand Activity

Indicator (NZAC) result shows that the economy continued to recover in June,

although activity was still 0.9% down on the same month last year (Figure 2).

The June recovery was mainly driven by electronic card spending and heavy

traffic movements, which were 3.9% and 7.1% up on June last year, respectively.

Other contributing indicators, such as light traffic movements, business

activity outlook and new job advertisements posted online, also saw a continuing

uptick. However, the index was dragged down a little by the growing number of

people receiving income support (Jobseeker and CIRP)."