Nick Tuffley: ASB Chief Economist warns of an economically challenging 2023

from Holiday Breakfast · host Newstalk ZB

ASB is urging New Zealanders to prepare for a challenging year ahead. The bank's latest economic forecast expects the economy will contract 1 percent by the end of next year, driven by falling consumer spending and declining building activity. It anticipates the Official Cash Rate will peak at 5.5 percent mid next year. Chief Economist Nick Tuffley says the pressures are going to see consumer spending fall, and overall spending volumes look to drop a little as well. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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This episode was published on December 19, 2022.

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