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New Zealand: Forecasting a recession – Standard Chartered

Economists at Standard Chartered Bank have lowered their 2020 GDP growth forecast to -1.1% from 2.3% previously on the back of the coronavirus outbreak. 

Key quotes

“New Zealand’s Q4-2019 GDP eased to 0.5% q/q (1.8% y/y). On a full-year basis, 2019 growth was 2.3%, in line with our forecast.”

“We lower the 2020 GDP growth forecast to -1.1% (from 2.3%), but raise 2021 forecast to 3.2% (from 2.2%) on favourable base effects.”

 

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