GDP: Is New Zealand's economy actually on the mend? | Ryan Bridge TODAY
GDP: Is New Zealand's economy actually on the mend? | Ryan Bridge TODAY
NZ Herald ·
GDP: Is New Zealand's economy actually on the mend? | Ryan Bridge TODAY
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{"v":1,"chapters":[{"timeSeconds":0,"label":"New Zealand Economy Growth","summary":"New Zealand's economy grew by 0.8% in the March quarter, up 1.5% on the year prior. However, this data is described as the 'calm before the storm' as it doesn't account for the Iran war and its impact on oil prices."},{"timeSeconds":27,"label":"Expert Analysis of GDP Figures","summary":"Westpac Chief Economist Kelly Eckhold joins the discussion to analyze the GDP figures. She notes that while the growth is positive, it doesn't reflect the full impact of recent global events."},{"timeSeconds":43,"label":"Factors Supporting Economic Growth","summary":"Eckhold highlights that factors like strong commodity prices, low interest rates, and a supportive exchange rate contributed to the economy's performance in the latter half of last year and early this year."},{"timeSeconds":116,"label":"Potential for Rate Rises","summary":"The discussion touches on whether the current economic data suggests the Reserve Bank might consider interest rate rises. Eckhold suggests that the market is anticipating potential rate hikes, possibly as early as July."},{"timeSeconds":155,"label":"Consumer Confidence and Spending","summary":"Consumer confidence data has been quite weak, reflecting a decline in spending on non-essential items. This is attributed to factors like rising inflation and interest rate expectations."},{"timeSeconds":238,"label":"Inflation Outlook and Rate Hikes","summary":"The outlook for inflation remains elevated, leading to expectations of further interest rate rises. This is a contrast to earlier forecasts which anticipated fewer rate hikes."},{"timeSeconds":305,"label":"Reserve Bank's Next Move","summary":"The Reserve Bank might pause for a little bit longer before raising interest rates again. The previous meeting's guidance suggested rate hikes, but current data might lead to a different approach."},{"timeSeconds":346,"label":"Consumer Sentiment Impact","summary":"The weak consumer sentiment data, released this week, reflects a decline in consumer confidence. This suggests that consumers are not feeling as optimistic about their financial situation."}]}
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