The New Zealand economy continues to perform reasonably well despite heightened risks in the international economy, according to the latest BusinessNZ Planning Forecast.
The BusinessNZ Planning Forecast for the June 2019 quarter shows New Zealand’s GDP growth – forecast at more than 2.5 percent over the next two years – is still reasonably robust, and employment levels are near maximum, but some indicators are pointing to slowing growth.
BusinessNZ Chief Executive Kirk Hope says it will be important for GDP growth to continue.
“The Wellbeing Budget’s relatively robust outlook is dependent on the economy continuing to deliver growth that will ensure tax rates strong enough to finance the Government’s programme and to maintain current debt levels,” he said.
The BusinessNZ Economic Conditions Index sits at 6 for the June 2019 quarter, up 1 on the previous quarter but down 4 on a year ago.
The Index tracks 33 economic indicators including GDP, export volumes, commodity prices, inflation, debt, and business and consumer confidence.