The Chart: How the forecasters fared predicting GDP

Andy Fyers
Thu, 17 Sep 2020

The second quarter of 2020 saw the biggest contraction in New Zealand's economic activity in living memory.It also provided a big challenge for economic forecasters, given the unprecedented upheaval caused by the various covid-19 lockdown levels that were in place between March and June.But after failing to foresee the surprise dip in official unemployment numbers - actual numbers tell a different story - forecasters have done a pretty good job of predicting the GDP change.We polled a range of banks and financial institutions for their fina...

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