One expert says today's GDP figures paint a bleak picture of the economy - but there's light at the end of the tunnel.

Stats NZ revealed this morning a 0.2 percent contraction for the three months to June, following 0.1 percent growth in the March quarter.

Kiwibank economist Jarrod Kerr says it's likely the economy won't start growing again until late 2025.

"The Reserve Bank's put a stake in the ground - they started cutting in August - and I think that'll mark the turning point."

LISTEN ABOVE

One expert says today's GDP figures paint a bleak picture of the economy - but there's light at the end of the tunnel.
Stats NZ revealed this morning a 0.2 percent contraction for the three months to June, following 0.1 percent growth in the March quarter.
Kiwibank economist Jarrod Kerr says it's likely the economy won't start growing again until late 2025.
"The Reserve Bank's put a stake in the ground - they started cutting in August - and I think that'll mark the turning point."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Jarrod Kerr: Kiwibank economist on New Zealand's GDP dropping 0.2 percent

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/79c30951-a5a7-4c26-8cb0-b1f0006647b1/transcript