New Zealand Institute of Economic Research (NZIER) survey of economists, the latest Consensus Forecasts.
Some of the key items from the report, very briefly summarised::
- annual average growth in GDP is forecast to contract by 1.1 percent in the year to March 2025
- picking up to 1.9 percent in the following year
- lower interest rates are expected to support a pick-up in growth
- soft labour market is driving continued caution amongst households
- many households will face further relief in the form of reduced mortgage repayments. This is expected to support a continued recovery in discretionary spending over the coming years.
- inflation is expected to become anchored around the Reserve Bank of New Zealand’s (RBNZ) inflation target mid-point of 2 percent over the coming years
NZIER NZ dollar outlook:
