Treasury forecasting annual wage growth above 3% over next five years

Thu, 13 Dec 2018

By Pattrick Smellie Dec. 13 (BusinessDesk) - The New Zealand economy is forecast to deliver annual average wage growth of more than 3 percent a year during the next five years, although economic growth rates are seen falling gradually over that time. The Treasury’s half-year budget and economic update, or HYEFU, shows inflation-adjusted economic growth rising from 2.7 percent in the year to June 2018 to peak at 3.1 percent in the year to June 2020 before drifting back to 2.3 percent in the June 2023 year. Contributing to that easing in...

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