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RESEND NZ recovery set back by further earthquakes

Key highlights
More Christchurch earthquakes risk delaying the rebuild.
Weighing on NZ growth outlook, despite the positive tone of recent domestic data.
Continued concerns over sustainability of Government debt of peripheral economies.
 
Please note the weekly has been updated to incorporate revised forecasts to the Q1 current account (due for release on Wednesday).  This follows an announcement by Statistics NZ this afternoon of a revision to its methodology.  The changed methodology makes a substantial difference to both the Q1 forecast and to the annual deficit, hence the resending of the Weekly.  In addition, there has been a correction to our manufacturing review.  We have revised our Q1 GDP forecast to +0.3%.
 
Read the Full PDF Report >>

Report prepared by:
Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992
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