Economic momentum appears to be waning
Economic momentum appears to be waning
17 June 2022
Stats NZ has reported the country's gross domestic product dropped 0.2 percent for the March quarter, following a three percent rise in the previous quarter.
JMI Wealth Director Andrew Kelleher says combine that with a slow housing market, poor confidence and disposable income being under pressure.
He says we're not going to record a lot of economic growth over the next 12 months.
Kelleher says you need two consecutive quarters of negative growth for a recession, but even if we don't see one, bumping along the ground like a great big rock isn't much better.
© 2024 Newstalk ZB, NZCity