How much worse is the state of the economy compared to when they took office almost two years ago? Manufacturing activityManufacturing activity is 5.8 percent smaller than in June 2023, but year-end manufacturing activity growth - as measured in GDP data - improved from -5.2 percent to -1.7 percent, Kiernan said. "Research consistently shows that productivity is a key driver of living standard differences across countries, yet over recent decades, New Zealand's productivity growth and overall levels have lagged behind its peers." "Given these challenges, the government's focus on economic growth is appropriate, although the effectiveness of its policies remains to be seen." "It is fair to say, though, that the next year should see an improvement in economic activity - without any major events."