| March 2010
From the Editor
In early February, Australian economic growth for calendar year 2010 was forecast to reach 2.5% while New Zealand GDP growth was forecast to reach 2.8%. Both forecasts signal positive news for businesses on both sides of the Tasman and are backed by generally positive sentiment from business confidence surveys in both countries. For many local businesses the big question remains over interest rates with Australia having seen a number of rate rises in the three months to January while in New Zealand rates are not tipped to rise until the middle of the calendar year. This is in stark contrast to other economies around the world where growth is almost non-existent and interest rates are at extraordinary lows. However, there are signs around the world that the worst of the recession may be over with even the most badly affected countries such as the US and UK beginning to show modest signs of recovery. For clients of MSI member firms with international operations and aspirations and a desire to ‘get on with it’ the speed of the global recovery (or lack of it) will no doubt lead to some frustration. However, it focuses the mind on planning for the future and developing links and relationships in readiness for an upswing in traditional markets. As you consider your international development, it is worth noting the strength of the global association that MSI members in Australia and New Zealand are an important part of. Along with our counterparts in more than 90 countries, we are on hand to assist with introductions into local markets you may be considering. Rod Commins
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