The surprisingly low cost of lockdowns

Fri, 13 Nov 2020

Economists, like many travellers leaving Auckland this morning, aren’t overly flummoxed by the prospect of yet another lockdown in Auckland, largely because of the rapid recovery.“There were a lot of ‘boys who cried wolf’ at the time of the level 3/level 2 episode in August. But what we found in reality was that that episode had only a small lasting impact, because a lot of economic activity was delayed rather than cancelled,” said Westpac NZ chief economist Dominick Stephens.“The surprisingly low cost of loc...

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