Podcasts Other The Mike Hosking Breakfast Mark Smith: ASB Senior Economist says signs are pointing towards a greater chance of a recession

Mark Smith: ASB Senior Economist says signs are pointing towards a greater chance of a recession

Published: Aug. 25, 2022, 9:37 p.m.

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Economic signs are pointing towards a greater chance of a recession.

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Stats NZ data shows sales slumped 2.3 percent over the last quarter, for a second consecutive quarterly drop.

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ASB Senior Economist Mark Smith says declining sales combined with interest rate increases and low population growth are all contributing.

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He told Mike Hosking labour market conditions aren\'t helping lower the risk.

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Smith says staff shortages are preventing the economy from growing.

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