Opinion

What if we’re already in recession?

Jenny Ruth
Thu, 07 Jul 2022

What if we’re already in recession?
It looks like we're in for stormy weather. (Image: Unsplash)
Jenny Ruth
Thu, 07 Jul 2022
Is New Zealand already in recession? And what about the rest of the world?Even as central banks display their inflation-fighting derring-do by hiking their key interest rates in almost unprecedented 50-or-75 basis-point (bp) chunks, compared with the more usual 25bp, ominous economic storm clouds are getting thicker and darker.Locally, look no further than our own quarterly survey of business opinion (QSBO) released on Tuesday by the NZ Institute of Economic Research (NZIER), which can only be described as grim.Not only are the inflation indica...

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