Source: MIL-OSI Submissions
Source: The New Zealand Treasury
Key points:
– Economic activity has fallen abruptly as the Government responds to the health risks posed by COVID-19.
– Fiscal and monetary policy are helping ease the disruption to household and business income.
– Across the world, lockdowns and physical distancing measures are becoming pervasive, bringing a broad swathe of global economic activity to a sudden stop, cutting incomes and disrupting financial markets.
The Treasury intends to publish its Weekly Economic Update each week on its website soon.
