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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5279d967-3642-4d4b-af1f-b1f0006646a8/transcript