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GDP looks grim despite record population growth

Author
Newstalk ZB,
Publish Date
Thu, 21 Mar 2024, 7:54am
Photo / File
Photo / File

GDP looks grim despite record population growth

Author
Newstalk ZB,
Publish Date
Thu, 21 Mar 2024, 7:54am

New Zealand's gross domestic product isn't expected to have grown in the last quarter.  

ASB is predicting a 0.2 percentage point drop, ANZ expects 0.1 percentage point growth, and the Reserve Bank's forecast a flat zero percent.  

If the economic growth figures are negative, New Zealand will enter a technical recession given the last quarter's figure was also negative. 

Infometrics principal economist Brad Olsen told Mike Hosking they're predicting minus 0.2.  

He says given there's been the strongest population growth since 1946 at 2.8%, GDP at either side of zero is pretty sad. 

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