Growth outlook still solid, says NZIER Consensus Forecasts, March 2017

Abstract

The latest NZIER Consensus Forecasts shows growth forecasts have been revised up from 2018, while inflation forecasts are broadly unchanged relative to the previous quarter. Although forecasts for household spending are slightly stronger over the next two years, this is largely offset by downward revisions to the outlook for investment and net exports. Housing construction forecasts have been revised lower in the near term but higher from 2018. This reflects expectations of a more protracted construction cycle, given delays in some building work in the face of increased materials, labour and funding costs.