Nick Tuffley: ASB Chief Economist on quarter three, upcoming GDP release
The Mike Hosking Breakfast · Newstalk ZB
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Show Notes
An economist says the third quarter was tough in pretty much every sector, for the New Zealand economy.
The major banks are all predicting between 0.2% to 0.4% contraction when Stats NZ releases the GDP data for the third quarter just before 11am today.
It'll likely mean our third technical recession in two years.
ASB's Chief Economist Nick Tuffley told Heather du Plessis-Allan the agriculture and forestry sector were essentially the only positive performers.
He says construction, retail, and manufacturing all felt the pressure, with electricity struggles also taking place during this quarter.
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