NZ expected to stumble from one recession into another

BNZ now forecasts the economy will contract in the final quarter of this year and the first quarter of 2024. (Image: Bloomberg)

Bloomberg

Wed, 28 Jun 2023

By Tracy WithersNew Zealand may emerge from recession in the current quarter but it will quickly stumble into another one.That’s the view of economists at three of the nation’s biggest banks, who predict a second recession beginning later this year.“Economic momentum has ground to a halt,” said Mike Jones, chief economist at the Bank of New Zealand (BNZ) in Wellington. “It looks as if this broad state of affairs will be with us until at least the end of the year.”BNZ now forecasts the economy will contra...

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