New Zealand will stay relatively centrist despite change of govt

Singapore

A NEW New Zealand coalition was sworn in last week, led by Jacinda Ardern's centre-left Labour party. This administration replaces the centre-right National-led government that ruled since the end of 2008, though National remains the largest party in parliament.

The government inherits an economy that has begun to soften after a strong run over much of the post-financial crisis period. There are signs that some key drivers - including record-high levels of immigration, strong international tourism flows, and surging house prices - are starting to weaken. The annual pace of GDP growth in the second quarter of 2017 was 2.5 per cent, down from more than 3 per cent in 2016.