Jarrod Kerr: Kiwibank Chief Economist predicts double-dip recession following positive GDP growth
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
Some good economic news, for now.
Stats NZ figures show GDP increased 0.9 percent in the three months to June, and 3.2 percent in the year to June.
The figure for the March quarter has been revised to 0 percent - up from a 0.1 percent drop.
But Kiwibank Chief Economist Jarrod Kerr says they're still predicting a double-dip recession.
"We think the second half of this year will be quite painful for households- we still have a lot of households rolling off very low interest rates onto higher interest rates, and 40 percent of them will happen in the next 6 months."
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