Resilient despite global risks - Consensus Forecasts, September 2011

Economists expect resilience despite global risks. New Zealand economists on average believe the economy is set to recover, in part due to reconstruction of Canterbury. Global fears do not appear to have impacted on New Zealand economists’ expectations much as yet. Economic growth forecasts have been revised up a touch for the next two years, according to the latest NZIER Consensus Forecasts Survey. Economic growth will accelerate from 1.5% in the year ending March 2011 to 2.6% in 2012 and 3.7% in 2013. The Canterbury reconstruction will be the major driver, with a more modest recovery elsewhere.

_{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.}