On the mend but global risks dominate - Quarterly Predictions, September 2011
31 August 2011
“The New Zealand economy is on the mend, but weak global growth is threatening this recovery. An abrupt slowdown in the Australian economy, renewed recession fears in the US and a spreading sovereign debt crisis in Europe will soften global growth. New Zealand’s economic growth will be slow” NZIER’s Principal Economist Shamubeel Eaqub said.
We expect economic growth of 1.4% and 2.6% in 2011 and 2012 calendar years respectively. This is consistent with a slow and gradual economic recovery, with continued deleveraging.
The details are in NZIER’s September 2011 Quarterly Predictions – a comprehensive and independent commentary on the New Zealand economy and forecasts covering the next five years. Details and insights are available exclusively to NZIER members.