Source: New Zealand Institute of Economic Research
25 May 2021
While the dip in New Zealand economic activity in the final quarter of 2020 suggested some easing in the momentum of the rebound in the economy, improving household and business confidence should support a continued recovery over the coming years. Businesses are looking to invest and hire, and the improvement in household incomes is supporting retail spending.
NZIER forecasts annual average GDP growth to pick up to around 5 percent by the end of this year, before moderating to just over 3.5 percent by 2025.
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 media release here.
