Podcasts Other The Mike Hosking Breakfast Oliver Hartwich: NZ Initiative Director on the GDP falling by 0.3% in the September Quarter

Oliver Hartwich: NZ Initiative Director on the GDP falling by 0.3% in the September Quarter

Published: Dec. 14, 2023, 6:49 p.m.

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An economist says we\'re in an economy that\'s significantly smaller than estimated. \\xa0

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GDP fell 0.3% in the three months to September. \\xa0

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The June quarter\'s figures showed 0.5% growth,\\xa0revised from 0.9%.\\xa0

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NZ Initiative director Oliver Hartwich told Mike Hosking that it means we\'re in a technical recession,\\xa0but the revision\'s more shocking. \\xa0

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He says all together, the effect was the economy is now 1.8% of GDP smaller than the Reserve Bank last thought when they set the Official Cash Rate.\\xa0

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