Michael Reddell: Former Reserve Bank Economist on the GDP falling by 0.3 percent in September

An economist says signs on inflation are finally looking more positive.   GDP fell 0.3% in the September quarter, a much worse result than most economists predicted.   The June quarter figures were also revised down from 0.9% to 0.5% growth.   Former Reserve Bank economist Michael Reddell told Tim Dower that the Finance Minister is right in saying New Zealand needs urgent economic repair, and she's inherited a large fiscal deficit.   He says a focus on expenditure restraint is important, and it's not the time for tax cuts.  LISTEN ABOVE See omnystudio.com/listener for privacy information.