Fitch expects slower GDP growth than Treasury

By Jenny Ruth Jan. 14 (BusinessDesk) - New Zealand’s economy will likely grow at a slower pace than Treasury is forecasting due to weak business confidence and declining consumer confidence, according to Fitch Solutions Macro Research. “We expect growth to slow due to continued weak business and consumer sentiment which will weigh on investment and private consumption growth, Fitch says. It is forecasting tax and other government revenue to rise 5 percent this year and 4.5 percent next year, well below Treasury’s latest forecasts for g...