NZIER Consensus Forecasts show mixed outlook as uncertainty over the impact of latest COVID-19 community outbreak looms

The latest NZIER Consensus Forecasts show a downward revision to the near-term outlook for the  New  Zealand economy but an upward revision for the subsequent year. The latest community outbreak of COVID-19 is likely to have driven these revisions, as the recent lockdown reduces economic activity for the coming year. However, the expectation is for a rebound in demand from 2022. There is a wider than usual range of forecasts for the growth outlook, partly reflecting the difference in timing when forecasts were finalised.