An economist says the third quarter was tough in pretty much every sector, for the New Zealand economy. 

The major banks are all predicting between 0.2% to 0.4% contraction when Stats NZ releases the GDP data for the third quarter just before 11am today. 

It'll likely mean our third technical recession in two years. 

ASB's Chief Economist Nick Tuffley told Heather du Plessis-Allan the agriculture and forestry sector were essentially the only positive performers. 

He says construction, retail, and manufacturing all felt the pressure, with electricity struggles also taking place during this quarter. 

LISTEN ABOVE 

An economist says the third quarter was tough in pretty much every sector, for the New Zealand economy.&nbsp;
The major banks are all predicting between 0.2% to 0.4% contraction when Stats NZ releases the GDP data for the third quarter just before 11am today.&nbsp;
It'll likely mean our third technical recession in two years.&nbsp;
ASB's Chief Economist Nick Tuffley told Heather du Plessis-Allan the agriculture and forestry sector were essentially the only positive performers.&nbsp;
He says construction, retail, and manufacturing all felt the pressure, with electricity struggles also taking place during this quarter.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Nick Tuffley: ASB Chief Economist on quarter three, upcoming GDP release

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/54733cc8-5cec-419a-952c-b24a014bf94e/transcript

There are hopes aligning with Australian fuel standards could allow us to work together in an Anzac-type arrangement for fuel supply. 

The Government's changing the standards aiming to make it easier for importers to source fuel.  

Associate Energy Minister Shane Jones says they're currently drawing the line at higher-sulphur fuels until officials know if it'll damage new European emissions-compliant engines here. 

He told Mike Hosking Australasia is at the end of the railway track, so we should work together. 

He says our Prime Ministers have been talking so we can act robustly together to secure supply if needed. 

Jones told Hosking the Government's signed off on all the specifications which can be harmonised. 

He says the specifications are down to different temperatures between our countries, with fuel designed for Queensland not as useful in Twizel. 

LISTEN ABOVE 

There are hopes aligning with Australian fuel standards could allow us to work together in an Anzac-type arrangement for fuel supply.&nbsp;
The Government's changing the standards aiming to make it easier for importers to source fuel. &nbsp;
Associate Energy Minister Shane Jones says they're currently drawing the line at higher-sulphur fuels until officials know if it'll damage new European emissions-compliant engines here.&nbsp;
He told Mike Hosking Australasia is at the end of the railway track, so we should work together.&nbsp;
He says our Prime Ministers have been talking so we can act robustly together to secure supply if needed.&nbsp;
Jones told Hosking the Government's signed off on all the specifications which can be harmonised.&nbsp;
He says the specifications are down to different temperatures between our countries, with fuel designed for Queensland not as useful in Twizel.&nbsp;
LISTEN ABOVE&nbsp;

Shane Jones: Associate Energy Minister on the Government changing fuel specifications to align with Australia

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ebdbe7ab-41b4-497b-aa82-b41601417ca3/transcript

Synlait's boss says the company's facing its toughest period in 20 years, but hopes a turnaround is near. 

The Canterbury milk processor's posted a half year loss of $80.6 million. 

Revenue rose $32 million to $949 million, while debt soared 88$ to $472 million. 

Chief Executive Richard Wyeth told Mike Hosking the next six months are critical. 

He says they've got the sale of a North Island asset coming up but need to catch up on a backlog for advanced nutrition, then they can focus forward. 

LISTEN ABOVE 

Synlait's boss says the company's facing its toughest period in 20 years, but hopes a turnaround is near.&nbsp;
The Canterbury milk processor's posted a half year loss of $80.6 million.&nbsp;
Revenue rose $32 million to $949 million, while debt soared 88$ to $472 million.&nbsp;
Chief Executive Richard Wyeth told Mike Hosking the next six months are critical.&nbsp;
He says they've got the sale of a North Island asset coming up but need to catch up on a backlog for advanced nutrition, then they can focus forward.&nbsp;
LISTEN ABOVE&nbsp;

Richard Wyeth: Synlait CEO on the $80.6 million half-year loss, future of the company

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ec6bae25-4bef-479b-9bdd-b416013a9dd6/transcript

A refined oil expert's dismissing the idea the Government's allowing 'dirty fuel' into the country to ease supply. 

Our fuel specifications are changing so importers have the option to bring fuel refined to Australian standards. 

It says the fuel's compatible with New Zealand vehicles and meets safety and quality expectations. 

Australia's Macquarie University's Lurion De Mello told Mike Hosking they've used these fuel standards for the last ten years. 

He says it won't have the environmental damage some people are thinking. 

LISTEN ABOVE 

A refined oil expert's dismissing the idea the Government's allowing 'dirty fuel' into the country to ease supply.&nbsp;
Our fuel specifications are changing so importers have the option to bring fuel refined to Australian standards.&nbsp;
It says the fuel's compatible with New Zealand vehicles and meets safety and quality expectations.&nbsp;
Australia's Macquarie University's Lurion De Mello told Mike Hosking they've used these fuel standards for the last ten years.&nbsp;
He says it won't have the environmental damage some people are thinking.&nbsp;
LISTEN ABOVE&nbsp;

Lurion De Mello: Energy market expert and Senior Lecturer at Macquarie University on the changes to fuel import specifications to ease supply burden

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ae6c38fe-2baf-4544-81ef-b4160138b172/transcript

Nick Tuffley: ASB Chief Economist on quarter three, upcoming GDP release

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