Escalating global risks threaten economic recovery - Quarterly Predictions, September 2012
29 August 2012
Domestic growth is steady but unspectacular. Kiwi households and the government are spending cautiously and paying off debt. This is an essential part of the adjustment from the pre-Global Financial Crisis, credit-fuelled boom of the early 2000s but is making for a tough time for retailers and builders. A tentative lift in mortgage borrowing is promising, although business investment is still muted for this stage in the recovery.
The details are in NZIER’s latest Quarterly Predictions – a comprehensive and independent commentary on the New Zealand economy and forecasts covering the next five years.
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