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Summary: New Zealand Nov 11

  • ID: 2025401
  • November 2011
  • Region: New Zealand
  • Standard & Poors

The ratings on New Zealand reflect our opinion of the country's fiscal and monetary policy flexibility, economic resilience, public policy stability, and its sound financial sector, which we see as strong. These strengths are moderated by New Zealand's very high external imbalances, which are accompanied by high household and agriculture sector debt, dependence on commodity income, and emerging fiscal pressures associated with its aging population. In our view, the New Zealand economy performed soundly in the fiscal year ended June 30, 2011, supported by high prices and sound climatic conditions for dairy farming, and improving household and business sentiment and spending that offset weakness in domestic consumption and a temporary setback due to the Canterbury earthquakes. We believe the economy...

Companies mentioned in this report are: New Zealand
Action: Review

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New Zealand

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