Black Monday

[Rawz]

Oh gee. The economy shrunk. Who would have thought.

Yes and you can guarantee that this quarter is no better.
Think how many households are refixing on higher rates this calendar year. Only more pain to come for the economy.


https://www.interest.co.nz/public-po...uring-december

New Zealand’s economy got 0.1% smaller in the last three months of 2023, bringing annual growth for the calendar year to just 0.6%.
Stats NZ reported gross domestic product had fallen for a second quarter, after the 0.3% decline in the September quarter.
This result was a small surprise for forecasters who expected 0.1% growth and the Reserve Bank which predicted no change during the quarter.
The largest downward drivers came from a 1.8% decline in the wholesale trade of items such as groceries, liquor, machinery, and equipment, Stats NZ said.

[causecelebre]

Oh gee. The economy shrunk. Who would have thought.

Apparently importing GDP via immigration isn't working either....

[Panda-NZ-]

Apparently importing GDP via immigration isn't working either....

Yeah the per capita numbers would be a horror story.

[Toddy]

Silver lining. As a Kiwifruit grower I'm looking forward to lower interest rates sooner, a dropping Nzd and cheaper immigrant labour.

Always looking for the positives.

But super worried about the basket case NZ economy. What a mess.

[bull....]

testing the breakout maybe. not uncommon for big asx drops after a good run and march is historically a seasonally weak month for asx on average.
i might worry more if it falls under 7600 being a trader

asx holding that 7600 breakout with a nice bounce up of 1% today ... new market highs soon ?

[bull....]

shocker NZ gdp. I expect even worse result next quarter. per capita worse than the gfc it be next time

NZ better find some new markets or businesses quick or standard of living going down. dumb tax cuts dont help probably have to sell more silver to pay for them

[Valuegrowth]

Silver lining. As a Kiwifruit grower I'm looking forward to lower interest rates sooner, a dropping Nzd and cheaper immigrant labour.

Always looking for the positives.

But super worried about the basket case NZ economy. What a mess.

Lower NZ dollar is good for export. Also good for those who want to convert foreign currencies and foreign assets to NZD.

[kiora]

Silver lining. As a Kiwifruit grower I'm looking forward to lower interest rates sooner, a dropping Nzd and cheaper immigrant labour.

Always looking for the positives.

But super worried about the basket case NZ economy. What a mess.

"I'm looking forward to lower interest rates sooner, a dropping Nzd and cheaper immigrant labour."

Doubtfull they will come down soon enough & far enough?

Reserve bank seems to be in Lala land ?

[Bobdn]

Breaking news (lol): Switzerland is the first developed country to cut interest rates.

We need to cut interest rates in 3 2 1...

[Valuegrowth]

Breaking news (lol): Switzerland is the first developed country to cut interest rates.

We need to cut interest rates in 3 2 1...

Even if Fed decide to cut rates it could be gradual and marginal. May be by 2026 or 2027 we will actually feel the rate cut.