Michael Gordon: Westpac Senior Economist on the GDP figures set to be released today

Data due out today is expected to show our economy was continuing to recover before the fuel crisis really began to bite.  Stats NZ is releasing GDP figures for the March quarter at 10.45.  It's expected to show the economy grew between 0.7 and 1% between January and March, but it's likely to have contracted again between April and June.  Westpac Senior Economist Michael Gordon told Andrew Dickens normally this is a phase in which we’d be able to get some strong growth, but there are still some headwinds against the economy.  He says we still had interest rate relief over the past few years, but it’s more a case of the Reserve Bank taking its foot off the break, but not stomping on the accelerator to get the economy going again.  LISTEN ABOVE See omnystudio.com/listener for privacy information.