18 Apr 2023

ASB predicts a recession worse than previously forecast

From Morning Report, 7:19 am on 18 April 2023

One of our major banks is forecasting New Zealand's economy will tip deeper into recession than previously forecast.

ASB's quarterly economic forecast says the country is now feeling the effects of the stimulus that got us through the pandemic and is predicting an overall GDP fall of around two percent by early next year.

ASB chief economist Nick Tuffley spoke to Corin Dann.