NZ economy: roller coaster

23 Sep 2021

NZ’s economic roller coaster ride can be expected to continue through the next quarter, according to the BusinessNZ Planning Forecast.

The forecast for the September quarter shows a fluid situation with Covid issues still dominating the economic landscape, BusinessNZ Chief Executive Kirk Hope says.

“The closed border, lockdowns, blocked supply chains, critical staff shortages and emerging inflation are hitting businesses hard.

“Those factors are also affecting the ability to forecast likely economic outcomes.

“What is certain however, is that current conditions are significantly worse than in the previous quarter.”

The BusinessNZ Economic Conditions Index sits at -15 for the September 2021 quarter, down 30 on the previous quarter and down 27 on a year ago.

The BusinessNZ Economic Conditions Index tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt, and business and consumer confidence.

The BusinessNZ Planning Forecast for the September 2021 quarter is on www.businessnz.org.nz