The Chart: How the forecasters fared predicting GDP

A record dip in GDP.

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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