Mike Jones: BNZ Chief Economist ahead of today's GDP release
Update: 2024-09-18
Description
An economist says another GDP contraction today would be in-line with the idea we've been in a rolling recession for almost two years.
The March 2024 quarter showed just 0.2% growth.
BNZ is picking a 0.4% contraction in the second quarter.
Chief Economist Mike Jones told Ryan Bridge the Reserve Bank's anticipating a 0.5% contraction, so it would take a real clanger to throw it off course.
He says the bigger piece of news for interest rates in New Zealand and the Reserve Bank might be what the US Federal reserve does with interest rates.
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