Islands Business - New Caledonia weathers 2009 global economic downturn

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New Caledonia weathers 2009 global economic downturn

Figures released in Noumea have confirmed that New Caledonia has withstood last year’s economic downturn by sustaining growth estimated to be two percent.

RNZI

Fri, 12 Mar 2010

NOUMEA, New Caledonia ---- Figures released in Noumea have confirmed that New Caledonia has withstood last year’s economic downturn by sustaining growth estimated to be two percent.

The IEOM institute says this marks a drop over the four to five percent range seen in the previous years.

It said last year about 1,500 jobs were created and inflation slashed from 3.7 percent to 0.2 percent.

The institute attributes the slowing of the economy last year also to a lack of confidence because of the territorial elections, the social unrest in August as well as to a flu outbreak.

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