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Economy

Outlook still rosy despite covid

Jem Traylen
Thu, 19 Aug 2021

Spending could fall as much as 26% during alert level 4 but should recover quickly if lockdown is brief (Image: Deposit Photos)
Jem Traylen
Thu, 19 Aug 2021
Underlying resilience means the economy is expected to make a strong recovery from the current lockdown provided it doesn’t last too long.Infometrics principal economist Brad Olsen told BusinessDesk that economic activity at level 4 can be restricted by as much as 26%, but most spending is simply pushed into future weeks once alert levels are lowered.“We see a bounce back in activity, we see some of that pent up demand from consumers being released back into the economy and that limits the overall hit," Olsen said. “...

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