The economy's slightly weaker than economists and the Reserve Bank expected.

New GDP figures show a 0.6 percent contraction for the December quarter, compared to a two percent increase for September's.

All major banks predicted a slump despite the Central Bank predicting a 0.7 lift.

ASB economist Nathaniel Keall says the warning signs were there.

LISTEN ABOVE

The economy's slightly weaker than economists and the Reserve Bank expected.
New GDP figures show a 0.6 percent contraction for the December quarter, compared to a two percent increase for September's.
All major banks predicted a slump despite the Central Bank predicting a 0.7 lift.
ASB economist Nathaniel Keall says the warning signs were there.
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.