Economic recovery ‘pushed further and further out’
Fresh data suggests economy still not firing on all cylinders nearly a year after first interest rate cut.
Hospitality is feeling the pinch from weaker consumer spending.
New Zealand’s economic recovery appears to be getting pushed out amid cautious consumer spending and global trade jitters.
Another key data set today showed the services sector was in contraction for the fifth consecutive month. The BNZ-BusinessNZ Performance of Services Index was at 47.3 in June.
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