NZIER Consensus Forecasts shows growth outlook broadly unchanged

Abstract

The latest NZIER Consensus Forecasts expects a growth outlook which is broadly unchanged from the previous quarter. Over the coming year, a softer outlook for investment is offset by expectations of stronger export growth. Business confidence has fallen sharply over the past year, and with profitability continuing to deteriorate there are signs it is impacting negatively on investment intentions. However, with hiring still solid and wage growth picking up, increased household income is supporting spending.