The visible hand in economics

The week in numbers

Posted on: August 20, 2007

  1. QVNZ three monthly house price growth continued to accelerate, reaching 12.7%pa in July
  2. Retail sales growth was up 7.2%pa in the June quarter, and 4.8%pa in the June month.
  3. The exchange rate is crazy, falling to $0.67US at one point, currently around $0.69.

Robust house price growth and reasonable sales growth are not the sort of news that usually leads to a plunge in the exchange rate. However, with credit tight people are pulling out of NZ to try and get hold of some liquidity.

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