Experts point to downward correction of New Zealand's growing economy

Domestic and international pressures mean our currently high growth rate – around three per cent - can't continue forever, economists have warned.

Local business owner Michael Vickers, who owns North Shore Demolition, noticed a slowdown six months ago.

Mr Vickers says while the demand to demolish buildings have gone down, the sale of recycled items has kept his company in business.

"We’re just back on the yard. The yard sales will get us through - they got us through last time," Mr Vickers said.

"There's a fuel tax coming up and that's going to affect business, especially trucking companies and we run a lot of trucks."

John Ballingall, the deputy chief executive for the New Zealand Institute of Economic Research, says business confidence has fallen sharply after the change in government six months ago.

"On the domestic front, business confidence has fallen sharply since the change in government and firms are telling us that they plan to invest and hire less than they have before," Mr Ballingall said.

"We've spoken very vocally around high levels of household debt and particularly concentrated levels of household debt around property investors," Adrian Orr, the Reserve Bank governor, said.

There's been concern about a possible trade war between the United States and China.

"There’s a lot of uncertainty out there about what the global trading environment looks like and that's bad news for a trading economy such as New Zealand," Mr Ballingall said.

The economy moves in cycles, but a financial crisis at the level of 2008 is being downplayed.

Cameron Bagrie, former ANZ chief economist and owner of Bagrie Economics, says, "If you believe in statistics, years ending in eight tend to be a bad year."

"There's some warning signs around the globe but there's also some pretty good signs - the world's largest economy has got an unemployment rate of 3.9 per cent. That's a sign of economic strength - that kind of stuff is to be embraced," Mr Bagrie said.

Michael Vickers believes future-proofing the economy starts at the grass roots.

"Apprenticeships - I’d hit apprenticeships hard. Training - we've got plenty of it and lawyers - let's get some truck drivers," he said.

This week will reveal whether the government is listening.

All eyes are on the economy ahead of the budget release this week. Source: 1 NEWS

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Police launch homicide inquiry after man found injured on Porirua road dies

Wellington Police have launched a homicide investigation after after a man found critically injured on a Porirua road on Sunday died last night and inquiries established he fell from a vehicle.

Police this afternoon named the man as 19-year-old Sosiua Helotu Ula of Wiri, South Auckland.

Police and other emergency services attended a scene on Warspite Avenue just after 4pm on Sunday, when he was located on the road with critical injuries.  

Detective Senior Sergeant Christiaan Barnard says a team of detectives are working to establish how he sustained these injuries, but inquiries have established that he has fallen from a vehicle. He died of his injuries in Wellington Hospital last night.

Police are still seeking the public’s help identifying anyone who may have witnessed the incident in Porirua on Sunday, Mr Barnard said.

They're also are seeking to reconstruct Mr Ula’s movements before he sustained his fatal injuries, and are appealing to the public for help.

They want to hear of any sightings of a black Mercedes, registration GPW495. 

Officers want to urgently speak to anyone who saw the Mercedes or any other car driving erratically near Waitangirua Mall that day, Mr Barnard said.

Police are appealing for the driver of a red car driving east on Warspite Avenue that nearly had a head on crash with the Mercedes to come forward, he said.

One person was taken into custody in relation to the incident and has been charged with driving while disqualified and supplying methamphetamine.

Police car Source: 1 NEWS

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Helen Clark gets behind Sir Edmund Hillary Trust's work in Nepal

Helen Clark has been named as the first patron of the Sir Edmund Hillary Himalayan Trust.

The trust works to improve education, healthcare and drinking water in Nepal - one of the world's poorest countries.

Its chairperson, Michael Gill, said Ms Clark's strong friendship with the late Sir Edmund, her passion for reducing poverty, and her love of mountaineering made her an ideal choice as patron.

The former prime minister will trek to the Everest region next year as part of the centenary celebrations of Sir Edmund's birth in 1919.

"She will meet some of the communities we work with and see first-hand the real and lasting impact of Sir Ed and New Zealand's unique contribution to this region," Mr Gill said.

"She will also visit the recent work funded by New Zealanders, including some of the 150 earthquake-strengthened classrooms built to replace those destroyed in the 2015 earthquakes."

Ms Clark said Sir Ed had been an inspiration and a role model for generations of New Zealanders for his spirit of adventure, modesty, humanity and compassion.

"His friendship with the people of Nepal and his work through the Himalayan Trust to support education and health in the Everest region are a legacy that New Zealand can be proud of," Ms Clark said.

"I look forward to celebrating this legacy."

Sir Edmund established the Himalayan Trust in the 1960s, when he built the first schools and hospitals in the Everest region.

rnz.co.nz

Former Prime Minister Helen Clark plans to visit the Everest region next year to see the work of the Sir Edmund Hillary Himalayan Trust first hand. Source: rnz.co.nz


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Watch: Heavy snow turns Te Anau into a winter wonderland ...in October

Snow has turned the Te Anau area into a winter wonderland as a cold blast sweeps through, making the spring school holidays seem more like the winter break.

The MetService forecast for Fiordland and Southland has come to pass, with heavy rain and snow to 200 metres.

1 NEWS video shows near whiteout conditions, with snow flakes close to the camera and the ground blanketed on a rural property in the Te Anau area.

The Lake Te Anau waterfront is also white, and a picnic table looks uninviting.

But a dog on the waterfront is undeterred from having a run.

The cold snap is not over yet, MetService saying another cold change is expected to sweep out of the Southern Ocean and onto the South Island tomorrow night.

Rain and snow will clear in the deep south during this evening, but return tomorrow night.

Canterbury and Otago are not immune with snow down to 500 metres and rain easing in Otago this evening.

This was a delight for locals as a cold snap hit the lower South Island today. Source: 1 NEWS


Have you seen this 'dangerous' man with face tattoo in the Hawke's Bay?

Police are hunting a man in Hawke's Bay they consider dangerous with a warrant out for his arrest.

Hawke's Bay police are looking to locate Hauraki Hira.

Hira, who is heavily tattooed across his mouth and face, is considered dangerous and police recommend members of the public do not approach or confront him.

If anyone has any information that could assist in locating Hira, Police encourage them to call 111 or Crimestoppers on 0800 555 111.

Hauraki Hira.
Hauraki Hira. Source: NZ Police