Gareth Kiernan: Infometrics Chief Forecaster on the economy's slow recovery
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Gareth Kiernan: Infometrics Chief Forecaster on the economy's slow recovery
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There's proof the economy is in a slow recovery mode, even if it can't be felt.
Infometrics' latest economic forecast shows economic growth —recently measured at 1.7% per annum by Stats NZ— is expected to stay above 1.5% until mid-next year.
It's predicted to accelerate to 2.2% by the end of 2027.
Chief Forecaster Gareth Kiernan told Mike Hosking while there has been a level of sectorial and regional discrepancy, they've started to see more lines across the economy point in the right direction.
He says manufacturing, residential and civil construction, and tourism activity are lifting as well, so it's not simply a farm driven exercise.
Kiernan says it's still a bit patchy and fuel prices are having an impact, but they're not expecting the economy to start going backwards.
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