Lower growth for longer - Consensus Forecasts, December 2011

The recovery will slower than previously thought, according to the NZIER Consensus Forecasts. But the economy will still grow: 2.2% in the year ending March 2012 and then accelerate to 3.0% in 2013 and 2014. The Canterbury reconstruction will be a key driver, with the rest of the economy growing more modestly, averaging 2.2% over the next three years.

_{Each year NZIER devotes some of its resources to undertake and make freely available economic research and thinking aimed at promoting a better understanding of New Zealand’s important economic challenges. The preparation of this paper was funded from those resources.}