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

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

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.