Source: New Zealand Institute of Economic Research
26 August 2020
NZIER forecasts the effects of COVID-19 will persist well into 2023, as the recent re-emergence of COVID-19 in the community adds to the already highly uncertain outlook. The new restrictions have hampered the recovery in activity seen in recent weeks as New Zealand moved down alert levels. Although retail spending had rebounded in the months following the relaxation of lockdown restrictions, the recent increase in spending has yet to make up for the decline experienced during the lockdown.
Quarterly Predictions is an independent review of New Zealand’s economic outlook and includes comprehensive forecasts of the economy. The full publication is available exclusively to NZIER’s members.
Read the full media release here.