Ahead of GDP data next week, economists reckon the economy went backwards, but there’s no technical recession on the horizon.
The Westpac McDermott Miller Consumer Confidence Index fell 11 points in June to 82.2.
The Treasury says there is no single cause of, or silver bullet for, the country’s poor productivity.
Food prices rose at the lowest level in more than five years in year ended May, according to Stats NZ.
Retail spending fell more than 1% in May, with broad falls across all categories, reports Stats NZ.
Xero report found there was a 6.1% slump in national productivity last year.
New Zealand's weak economy likely to diminish appeal from prospective migrants, says Westpac senior economist Michael Gordon.
The central bank will also ease loan-to-value restrictions from July 1.
RBNZ deputy governor Christian Hawkesby tells NBR cuts are not on the cards in the near term.
‘We will need to stay awake and aware,’ governor Adrian Orr said, as financial markets reacted to yesterday’s OCR statement.