Oh recession is definitely over. Just like how irresponsible lending was perfectly fine.

This is BS. It's not over. We all know it isn't. People are still losing their jobs and those that have are struggling to find new ones. They've said it's over multiple times this year but I'm yet to see any improvement that affects the average New Zealander.

The recession is over? My prediction is that there will be more job loses in 2010, the belt tightening will continue and the government will continue to increase prices, while freezing wages....(Of course these will not apply to MP's, Managers and highly paid public servants, they will probably get a pay rise or bonus).

and of course you can expect to hear more BS from our Politicians in 2010. More of Nick Smith smiling while raising ACC levies and maybe a few more racist comments from Hone Hawawera which are in fact not really racist according to Him.

ill advised false confidence is never ending it seems 12 mnths from now the cycle and its effects will be longer and lasting goodness come quickly

I'll make a $100 bet with these guys from the NZIER that the next two years will be economically dire. They look at one pathetic figure and think they can see the whole story or outcome. So much needs to happen before we see good times again. The US must dump its worthless currency, new energy sources must be found, world wide debt must be drastically reduced, new export jobs created. Until all this does take place then i'm afraid the outlook for the next 2 years is poor. Infact it's going to be so bad that you will tell your grandkids about eating from dumpsters!

absolute nonsense. who writes this tripe ? the greater depression is only just kicking into gear.i love the way the msm spin this thing like 'everythings fine and dandy'...cool then,im off to max out the credit card,buy a hummer & a big plasma screen tv !! see ya all at the shopping mall !

Some historical context:

May 1, 1930 "While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. There is one certainty of the future of a people of the resources, intelligence and character of the people of the United States - that is, prosperity." - President Hoover

June 29, 1930 "The worst is over without a doubt." - James J. Davis, Secretary of Labor.

August 29, 1930 "American labor may now look to the future with confidence." - James J. Davis, Secretary of Labor.

September 12, 1930 "We have hit bottom and are on the upswing." - James J. Davis, Secretary of Labor.

ha ha ha ha ha

Don't worry people of the republic all is well because the NZIER said it is.

Never mind cost of living continues to go up at a rate higher than wages then throw some ACC levy increases into the mix along with mortgage interest rate increases, growing unemployment etc etc etc

But alls fine, it really is, recession ended, honest.....

Come on in for a landing in the real world.

The ability of this Gov to get anyone connected to them to support their actions - incl with BS - is staggering. Eg the Anti Smacking Bill where Barnardos employees were told to vote against the Referendum and Federated Farmers ( of all people ) were co-opted into supporting a UN originated agenda ( promoted by Bradford ) that most farmers disagreed with.

This is more of the same. Any analysis must include the insane amount of unsustainable foreign borrowing that Bill English is currently doing. And preparing to sell assets, incl Kiwi Bank, to pay for it. Confidence - eg in the stock market - is fairly irrelevant. It all comes down to the money supply and the fact that our economy is being contracted - probably in line with IMF request ( Bill is very close to them ). This means we can't generate the cash and taxes to pay off our ballooning debt - personal and State.

But hey.....getting a big win at the next election - with John Key smiling and kissing babies - is what counts. Worldwide, money supplies are being kept contracted - most places - while USA expands its own. It is also being sent down the tubes - in a slow collapse - and all this will guarrantee a world depression. Which is why we need independence and change of policy to best survive it.

Dean #10, you are very fortunate to find a job in two weeks. I spent 4 months fruitlessly looking for work after being made redundant - I guess it depends on teh industry you work in. Peopl are not over-reacting - we are all affected in different ways. Try telling all the people I know who are currently struggling to find decent jobs, that they are over-reacting. Where I live, people are being laid-off left, right, and centre - this recession is far from over. businesses may be doing more trade, but workers still don't have jobs, until that improves, we cannot say this is over... people are struggling - some may be able to ignore that fact and carry on; lucky them, I guess they don't have to worry how to feed their families this Christmas! People need to have some respect for those who are doing it tough.