21 Aug 2022

Is there a recession looming?

From Sunday Morning, 8:14 am on 21 August 2022

There was interesting and much-discussed opinion from Westpac this past week about how the New Zealand economy won't enter a recession. Longer-term expectations of inflation will "stay under control", that was the phrase used.

Consumer Price Index inflation will fall slowly but steadily, the annual rate for this year will be 5.1 per cent, 3.2 per cent next year, 2.6 in 2024.

The ANZ sees a recession as still being a risk, and it reckons inflation this year will settle at 6.1% or so for this calendar year. 

Jim talks to Jeffrey Halley about the latest economic data. 

Close up of hand using tablet with financial digits and downward red arrow on blurry background, illustrating economic decline.

Photo: 123rf