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Business Weekly Economic Report
A backwards glance
Monday, 23 March 2009
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Last week markets looked to the Fed to step up its easing of monetary policy, and the Fed delivered adding an astounding array of planned asset purchases to its credit easing scheme. This week will bring a number of key NZ releases.
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On Thursday the Q4 current account is likely to register a widening to 9% of GDP for the annual total, up from 8.6%. The deficit will be under the microscope from rating agencies.
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On Friday is Q4 Gross Domestic Product (GDP), we are expecting a contraction of 1.1% – the fastest pace of decline since 1991.
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Report Prepared by:
Jane Turner
ASB Economist
Phone: +64 9 374 8185
Fax: +64 9 302 0992
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