
New Zealand's Economic Recovery Gathers Pace as Exports Jump
Gross domestic product rose 0.8% in the three months through March, accelerating from a downwardly revised 0.5% growth in the fourth quarter, Statistics New Zealand said Thursday in Wellington. The result was slightly better than the 0.7% growth expected by economists.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Corn Losses Continue Deeper on Tuesday
Corn continues to push lower on Tuesday, as contracts are down 4 to 6 cents so far at midday. The CmdtyView national average Cash Corn price is down 5 3/4 cents at $3.65. USDA reported a private export sale of 128,000 MT of new crop corn to unknown destinations this morning. More News from Barchart Coffee Prices Rally on Below-Average Rainfall in Brazil Below-Average Rain in Brazil Supports Coffee Prices Is the Corn Market Undervalued? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Monthly Census trade data was released this morning, showing June corn exports at the second largest all-time for the month at 6.747 MMT (265.62 mbu). That was up 22.76% from a year ago, but still 7.43% below May. Ethanol exports were a record for the month at 173.67 million gallons, a 29.58% increase yr/yr but 5.95% below May. Distillers exports were a 5 year low for the month at 917,307 MT USDA's Crop Progress report from Monday showed the US corn crop at 88% silking, with 42% in the dough stage. The crop was also listed at 6% dented. Conditions were steady this week, at 73% gd/ex and 384 on the Brugler500 index. By state, MI saw the largest improvement, up 24 points, with IN up 4, MO 5 points higher, MN improving 2 points and NE 1 point better. KS saw a 11 point drop, with IA down 2, IL slipping 4 points, and OH back down 7. A South Korean importer tendered for 140,000 MT of corn overnight, with a Wednesday deadline. Sep 25 Corn is at $3.81 1/4, down 5 3/4 cents, Nearby Cash is at $3.65, down 5 3/4 cents, Dec 25 Corn is at $4.02 1/4, down 4 3/4 cents, Mar 26 Corn is at $4.20, down 4 3/4 cents, New Crop Cash is at $3.61 1/4, down 6 cents, On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on


The Hill
2 hours ago
- The Hill
Bacon: Nebraska GDP down 6 percent under Trump
Rep. Don Bacon (Neb.), a moderate Republican, said he's concerned about the U.S. economy, noting his state saw a 6 percent annual drop in real gross domestic product (GDP) in the first quarter of 2025. In an interview with CNN's Phil Mattingly, Bacon pointed to the recent jobs data and the latest round of tariffs as reason for his pessimism about the economy. 'From my vantage point here in Nebraska, we're seeing a bit of a troubled economic mess — or, right now, it's a troubled time,' Bacon said. 'In Nebraska, the GDP here has decreased by 6 percent over the last year, and it's all about trade, it's all about getting corn and soybeans out the door,' Bacon continued. 'So, what I hear with, you know, weak jobs numbers, we're sort of seeing that in Nebraska right now.' The Commerce Department's Bureau of Economic Analysis released a report in late June showing real GDP in the first quarter of 2025 decreased in 39 states, with Nebraska and Iowa showing the largest decline with annual rates of -6.1 percent. Declines in agriculture contributed most significantly to the drop. Bacon, one of three House Republicans reelected in districts that voted for the former Vice President Harris- Gov. Tim Walz (D-Minn.) ticket in 2024, has criticized President Trump's trade policy in the past. He again expressed his support for free and fair trade, saying, 'Free trade provides the best products at the best price, in the most efficient manner,' while adding that, in circumstances where 'it's not fair trade, the president should try to correct that.' 'But doing tariffs against 80 different countries, I have a hard time accepting that as a sound strategy,' Bacon continued. 'I think in the end the American consumer would be paying a lot more for the price of their goods. And we're already starting to see that because in the end, tariffs are a tax on consumers.' The lawmaker, who is retiring at the end of his term, said he's hearing from Fortune 500 companies and agriculture producers that 'we're losing a share of the market right now,' which he said is going to affect jobs numbers and is already having a small effect on inflation, which Bacon expects to increase. 'But if the president sticks with these numbers, I think over time, these 25 percent tariffs will be represented in the goods we buy from these countries. And so I'm concerned about the strength of our economy,' he said.


CNET
2 hours ago
- CNET
Amazon's Starlink Alternative Is Coming to Australia Next Summer
Amazon's Project Kuiper is finally getting a launch date. Today, Amazon announced an agreement with Australia's state-owned National Broadband Network Company (NBN Co) to bring the satellite internet service to 300,000 eligible customers in rural Australia in 'the middle of 2026.' The announcement comes five years after the Federal Communications Commission first gave Amazon permission to deploy a constellation of low-Earth orbit satellites similar to SpaceX's Starlink service. Since then, Amazon has launched just 78 Project Kuiper satellites -- far below the 8,073 active Starlink satellites in orbit. 'Australia's vast geography presents unique connectivity challenges that traditional infrastructure often can't overcome,' Joe Lathan, Project Kuiper's manager for Australia and New Zealand, said in the press release. 'This partnership with NBN Co represents our commitment to solving these challenges through innovation and collaboration.' This is the first time Amazon has put a firm launch date on its Project Kuiper internet service. In a page updated on June 5, Amazon said it plans to start delivering service to customers 'in late 2025.' The company hasn't said where Project Kuiper will be available or how much service will cost. Amazon did not immediately respond to CNET's request for comment.