Story: Business cycles

Drought

Drought

Although international economic events frequently cause upturns or downturns in New Zealand, some changes in business cycles have been triggered by local events. Weather is particularly significant given New Zealand’s dependence on agricultural exports. In 2008 a drought had severe repercussions on the dairy output and therefore on the whole New Zealand economy. Here Steven Stark, a Waikato dairy farmer, shows how dry the soil had become.

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New Zealand Herald
Reference: 140208HOSCSDROUGHT02.JPG
Photograph by Chris Skelton

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How to cite this page:

Viv B. Hall, 'Business cycles - Causes and consequences of fluctuations', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/photograph/24168/drought (accessed 19 July 2019)

Story by Viv B. Hall, published 11 Mar 2010