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8 Aug 2022 8:00
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  •   Home > News > Business

    A warning of tough times ahead for our economy

    A warning of tough times ahead for our economy


    Business confidence is back down to March 2020 levels, with 62 percent of businesses expecting economic conditions to deteriorate

    ASB Senior Economist Mark Smith says we could start to see stagflation-like conditions.

    That means falling economic activity, rising inflation and increasing unemployment.

    Smith says the Reserve Bank will probably react by increasing the official cash rate.

    He says we will probably see a 50 basis point hike next week, and he thinks it will peak at 3.5 percent by the end of the year.

    © 2022 Newstalk ZB, NZCity

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    BUSINESS BUSINESS
    Almost a hundred hospital buildings across the country are earthquake-prone More...



     Today's News

    Cricket:
    To the women's T20 cricket final between Australia and India 7:49

    Accident and Emergency:
    Rescue teams could try again today to reach a light plane crash in the Southern Alps 7:39

    Business:
    Almost a hundred hospital buildings across the country are earthquake-prone 7:29

    Entertainment:
    Rosie O'Donnell has hit back at her teenage daughter for branding her upbringing abnormal 7:24

    Law and Order:
    Police are appealing for information about the death of a 23-year-old in New Plymouth last week 7:19

    Law and Order:
    People are being warned not to pick up hitch-hikers in the Waikato town of Te Aroha, while Police deal with what they're calling an "ongoing incident" 7:09

    Netball:
    The sisterhood of travelling netball fans comes full circle in Birmingham 7:09

    Entertainment:
    Harry Styles and Olivia Wilde are said not to have flaunted their flourishing romance on the set of their film 'Don't Worry Darling' 6:54

    Entertainment:
    Pierce Brosnan has paid tribute to his wife of 21 years Keely Shaye Smith with a sentimental message about their wedding 6:24

    Netball:
    The Black Sticks women will leave the Commonwealth Games without a hockey medal for the first time since Melbourne 2006 4:29


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