New Zealand Growth to Slow Over Next 2 Years on Rate Hikes, Weaker Exports

New Zealand's economic growth is forecast to slow over the next 2 years due to higher interest rates and weaker export demand.
Annual average GDP growth is expected to be just 0.4% in 2023/24 before recovering slightly to 1.1% in 2025.
Inflation is projected to ease from 4.3% in 2023/24 to 2.4% in 2025.
The RBNZ's interest rate hikes are dampening demand as their impact transmits through the economy.
Downside risks include weaker Chinese growth outlook dampening export demand, upside risks include strong net migration supporting domestic demand.

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Posted 9/18/2023, 1:49:04 AM