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More pain before economy picks up says economist
Morning Report
English - March 21, 2024 18:46 - 6 minutes - 5.88 MB - ★★★★ - 11 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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A leading economist is predicting more pain before New Zealand's ailing economy bucks up next year.
Data released on Thursday by Stats NZ showed that the economy has fallen back into recession, driven by weak consumer spending and wholesale trade.
Gross domestic product - the broad measure of economic growth - fell 0.1 percent in the three months ended December.
Shamubeel Eaquab says the decline began in September 2022 and won't be over until 2025.
Eaquab spoke to Corin Dann.