Jarrod Kerr: Kiwibank chief economist warns there's still bumps in the road and contractions to come

A leading economist says although it's shallow and technical, New Zealand is nonetheless in a recession. Stats NZ figures out today reveal GDP fell 0.1 percent in the March quarter- a second negative quarter of growth. Kiwibank chief economist Jarrod Kerr says there are still bumps in the road ahead. "We see contractions in the economy well before we see businesses laying off staff. And our business customers, they're telling us they're looking at downsizing their workforce now." LISTEN ABOVESee omnystudio.com/listener for privacy information.