NZ in 'productivity recession', stocks overpriced and should be sold down, JBWere says

Thu, 10 Aug 2017

By Jonathan Underhill Aug. 10 (BusinessDesk) - New Zealand's economy is in a "productivity recession" and relies on migrant-fuelled population growth to expand while stocks are overvalued and investors should cut their holdings by about a quarter, says JBWere. In an economic update on New Zealand, titled "Working Harder, not Smarter," the advisory firm says headline gross domestic product has continued "to print impressively" but GDP per hour worked has flatlined for five years and per-capita GDP is similar to Japan's. "In the absence...

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