yep imagine how terrible the performance would have been without 10yrs of money printing :scared:
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https://www.stuff.co.nz/business/300...Pos=1#cxrecs_s
Rampant price inflation 'a memory' by mid next year, Infometrics says
Kiernan said the economy was likely to “flirt with” negative growth until the end of 2024, which could look like a milder downturn compared to experiences such as the Global Financial Crisis. But population growth would obscure some of the extent of the weakness.
“A 2.2% decline in per-capita GDP in the year to June 2024 represents a much more significant contraction. This result demonstrates the reversal of households’ fortunes as the economy has slowed. The effects on businesses of each of their customers spending less will only be mitigated by an increase in customer numbers associated with strong net migration.
“Be it a continued slowdown, a double-dip recession, or any other description, the economy is still going to look and feel weaker throughout the rest of 2023 and into 2024. That’s the price we’re paying to get inflation under control and put the New Zealand economy on a more sustainable path. At least we’re now seeing the effects of the tightening in monetary conditions coming through.”
We have to wait and see. Mr Gareth Kiernan used to work as an analyst at Reserve bank. He also have held positions like Economist, Senior economist and Managing director. He has an in-depth understanding of construction sector.Through his long involvement in Infometrics’ team and his dealings with clients, Gareth has an extensive knowledge of the broader NZ economy.
Infometrics forecast usually pretty good …independent, no barrows to push, no set agendas
Kieran more conservative than the likes of that Brad Olsen who works there.
But in saying that I hear it’s hard to make predictions, especially about the future. Rob, I got that from one your heroes Mr Berra