Economic signs are pointing towards a greater chance of a recession.

Stats NZ data shows sales slumped 2.3 percent over the last quarter, for a second consecutive quarterly drop.

ASB Senior Economist Mark Smith says declining sales combined with interest rate increases and low population growth are all contributing.

He told Mike Hosking labour market conditions aren't helping lower the risk.

Smith says staff shortages are preventing the economy from growing.

LISTEN ABOVE

Economic signs are pointing towards a greater chance of a recession.
Stats NZ data shows sales slumped 2.3 percent over the last quarter, for a second consecutive quarterly drop.
ASB Senior Economist Mark Smith says declining sales combined with interest rate increases and low population growth are all contributing.
He told Mike Hosking labour market conditions aren't helping lower the risk.
Smith says staff shortages are preventing the economy from growing.
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.