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Business Weekly Economic Report
Flattening out
Tuesday, 22 September 2009
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The key release for the week is GDP. At worst, the figure will show that the pace of economic contraction has eased considerably after the 1% decline in the preceding quarter. At best the result will show that the economy has stopped contracting (at least for now!).
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Our forecast is a 0.1% increase for the quarter, slightly above the 0.2% contraction that is the median expectation. Given the margins of error around forecasts it is better to view the likely outcome as some stabilisation of the economy.
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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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