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Speaker 1: Now there are some positive signs in the latest employment

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Speaker 1: data out today. Filled job numbers rowse zero point two

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Speaker 1: percent in March and primary industries lead the growth up

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Speaker 1: zero point four percent. Nick Brunsden is Infametrics principal economist

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Speaker 1: and with us Heynick, I mean it's pretty small. Is

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Speaker 1: it enough to get excited about?

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Speaker 2: Normally it wouldn't be. No.

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Speaker 3: I think the reason why we are getting a tiny

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Speaker 3: bit excited about it is that it comes after a

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Speaker 3: year of declines for a month on months, so it's

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Speaker 3: the greenest of green shoots and that's sort of to

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Speaker 3: be celebrated after a fair period of decline.

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Speaker 1: In primary industries. Why is it doing so well?

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Speaker 2: Yeah, well, I was thinking about the expert data out

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Speaker 2: last week.

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Speaker 3: We'll got some really good returns coming through for the

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Speaker 3: primary sect or horticulture is doing really well. Jery prices

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Speaker 3: up and so that's supported those areas to hire a

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Speaker 3: little bit.

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Speaker 1: More and this is why the South Island's doing better.

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Speaker 2: Definitely. Yeah.

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Speaker 3: A curious result out of the data today was the

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Speaker 3: South Island is growing slightly faster than the North, again

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Speaker 3: underpinned by the primary sector and the North less primary

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Speaker 3: exposed more exposed to services and construction, and those areas

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Speaker 3: aren't doing quite so well at the moment.

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Speaker 1: Nick, is it I mean, it's really too early to

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Speaker 1: see a trend here and take too much heart from it.

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Speaker 2: Yeah, yeah, that's fair. Yeah, no, it is a little

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Speaker 2: bit too early. It is a good sign. It is

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Speaker 2: broadly consistent with other measures though.

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Speaker 3: So we did see an uptick in job adds again,

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Speaker 3: a one month uptick in February.

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Speaker 2: So it does.

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Speaker 3: It does show that we are starting to come up

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Speaker 3: off the bottom, and all the other indicators lead us

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Speaker 3: to the conclusion that we are essentially at the bottom.

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Speaker 3: So it is a question of when we do start

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Speaker 3: coming up off the bottom.

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Speaker 1: Brilliant stuff. Hey, Nick, thanks very much, really appreciated. Nick

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Speaker 1: Brunson Informatrix Principle Economists. For more from Hither Duplassy Alan Drive,

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