New Zealand Institute of Economic Research (NZIER) survey of economists, the latest Consensus Forecasts.
Some of the key items from the report, very briefly summarised::
- annual average growth in GDP
is forecast to contract by 1.1 percent in the year to March 2025 - picking up to 1.9 percent
in the following year - lower interest
rates are expected to support a pick-up in growth - soft labour market is driving continued caution amongst households
- many households will
face further relief in the form of reduced mortgage repayments. This is expected to support a
continued recovery in discretionary spending over the coming years. - inflation is expected to
become anchored around the Reserve Bank of New Zealand’s (RBNZ) inflation target mid-point
of 2 percent over the coming years
NZIER NZ dollar outlook:
This article was written by Eamonn Sheridan at www.forexlive.com.
