Economists downbeat on GDP, watch out for the FOMC

The US Federal Reserve's FOMC could keep the kiwi under pressure. (Image: Getty).

Tue, 11 Jun 2024

Economists are starting to forecast another domestic economic contraction against a backdrop of weak data but the main focus this week is squarely on the US Federal Reserve. Westpac Bank expects a 0.2% fall in New Zealand’s gross domestic product for the March quarter versus December. The Reserve Bank of NZ had forecast 0.2% growth. “The New Zealand economy is only just now moving into ‘cool’ territory, given how overheated it had become in previous years,” said senior economist Michael Gordon. Acco...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Jones heads to Oz to woo mining investors

Work has begun on a critical minerals list and stocktake.

Ian Llewellyn 3:32pm

The Quiz Free

QuiznessDesk: Wednesday, July 03

Can you answer all ten questions correctly?

The Quizmaster 9:15am

Markets

Advent International eyes NZ deals with Aussie outpost

US private equity giant says NZ key market for growth.

Rebecca Stevenson 9:10am

Advent International eyes NZ deals with Aussie outpost

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

Sponsored

Big change coming to insurance

Industry reset sees risk-based pricing coming for many homeowners.

VERO

More Economy

Economy

Business gloom offers inflation hope

The New Zealand Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion shows a continued deterioration in business confidence in the second quarter.A net 35% of firms expected a deterioration in the general economic outlook over the coming months on a seaso...

Staff reporters 02 Jul 2024