Economy
Fitch downgrades its NZ growth forecast
Fitch is also predicting international tourism is unlikely to recover this year.
Fitch Solutions has downgraded its forecasts for New Zealand growth in the wake of Thursday's report showing the economy shrank 1% in the December quarter."We have revised down our forecast for NZ's economy to grow by 3.6% in 2021 compared to 4.5% previously," the analytics division of Fitch said.Fitch Solutions is separate from its credit rating arm."Our downward revision in 2021 reflects a significant slowing in recovery momentum that the NZ economy experienced in the fourth quarter of 2020, which suggest to us tha...
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