Statistics New Zealand has revealed that recent extreme weather events will affect economic statistics from March 2023 onwards.
“Our customers make important decisions using our insights and statistics. The cyclones and flooding have affected the economy through disruption to economic activity and loss of assets,” stated General Manager of Economic and Environment Insights Jason Attewell.
Through the company’s conceptual and measurements method, four primary areas of focus are evaluated throughout the report, including loss of assets, disrupted business operations, expenditure on relief operations and immediate clean-up efforts, and insurance claims.
Some notable examples of the devastation could include job loss due to business closure, the surging price for fresh produce due to lack of supply as orchards and farms have been destroyed, higher insurances costs which are common following adverse events such as this, and disproportionate impacts across communities as a higher proportion of Māori businesses in regions and industries are affected.
The full report is available through Statistics New Zealand.
Statistics New Zealand emphasises that the enterprise's thoughts are with all those affected by Cyclone Gabrielle. The report has been created to help all understand the impacts of the weather event on the New Zealand economy.
“The focus of this report is to help those involved in forecasting and others who wish to understand how adverse weather has impacted the New Zealand economy,” Attewell said. “We appreciate and thank our customers who provided input and feedback about what information they need.”
The specific impacts of Cyclones Hale and Gabrielle are expected to be seen in results from the March 2023 quarter.
