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Economic growth `a really good picture'

NZ Newswire logoNZ Newswire 15/06/2017

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The OECD's chief economist says New Zealand's economic growth is "a really good picture" but the uneven nature of unemployment across the regions could become an issue.

Catherine Mann is in Wellington, and on Thursday presented the OECD's 2017 review of the New Zealand economy.

"It's a really good picture in terms of a trend upwards, that's a good sign and that's the kind of thing we've been looking at in the global economy as well," she said at a media briefing.

"On the other hand there are some other indicators where there is a little bid of good and bad news."

Ms Mann identified lower than average per capita productivity and unemployment in some regions as potential problems.

While overall unemployment was low, it wasn't spread evenly across the country, she said.

"What is not seen in the overall unemployment rate is the distribution across regions," she said.

"In some regions the unemployment rate is below three per cent, well below what it was before the global financial crisis.

"But in other regions it is above eight per cent - so regional disparity is a potential issue going forward, and an opportunity for policy considerations."

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