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

The Prime Minister says his State of the Nation speech will focus on his plan for setting up the country's future 

Chris Luxon is set to make the address at the International Convention Centre in Auckland this afternoon. 

Newstalk ZB understands he will try to draw attention away from turbulent affairs overseas - and to the Government's successes back home. 

Luxon told Mike Hosking that he won't be announcing policy - but will reveal a framework for going forward. 

He says the speech is a chance to lay out where we're at,  and what's going on. 

Chris Luxon says he will announce an election day shortly.

LISTEN ABOVE OR WATCH BELOW

The Prime Minister says his State of the Nation speech will focus on his plan for setting up the country's future&nbsp;
Chris Luxon is set to make the address at the International Convention Centre in Auckland this afternoon.&nbsp;
Newstalk ZB understands he will try to draw attention away from turbulent affairs overseas - and to the Government's successes back home.&nbsp;
Luxon told Mike Hosking that he won't be announcing policy - but will reveal a framework for going forward.&nbsp;
He says the speech is a chance to lay out where we're at, &nbsp;and what's going on.&nbsp;
Chris Luxon says he will announce an election day shortly.
LISTEN ABOVE OR WATCH BELOW

Chris Luxon: Prime Minister says his State of the Nation speech will focus on his plan for the country's future

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2ce702b2-06b2-486b-bfb8-b3d60142ac68/transcript

European leaders are meeting to work out how they can talk Donald Trump down from attempting to force the sale of Greenland. 

The US President's announced increasing tariffs starting next month, against six European countries, the UK and Norway, unless he gets a purchase deal. 

Observer Foreign Editor Andrew Rettman told Mike Hosking that Trump is known for flip-flopping on decisions, so leaders are working out if there's wiggle room. 

He says there's still hope this is just Trump's crazy way of negotiating. 

But Rettman says others are concerned a trade war could just be American soft power - with greater force to come. 

LISTEN ABOVE

European leaders are meeting to work out how they can talk Donald Trump down from attempting to force the sale of Greenland.&nbsp;
The US President's announced increasing tariffs starting next month, against six European countries, the UK and Norway, unless he gets a purchase deal.&nbsp;
Observer Foreign Editor Andrew Rettman told Mike Hosking that Trump is known for flip-flopping on decisions, so leaders are working out if there's wiggle room.&nbsp;
He says there's still hope this is just Trump's crazy way of negotiating.&nbsp;
But Rettman says others are concerned a trade war could just be American soft power - with greater force to come.&nbsp;
LISTEN ABOVE

Andrew Rettman: Observer Foreign Editor says European leaders scoping out wiggle-room in Trump's bid for Greenland

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e1b813eb-821a-4f5e-93ce-b3d6013ca9cb/transcript

A former Finance Minister says many people aren't feeling economic relief despite positive markers. 

The Prime Minister is giving his State of the Nation speech at the International Convention Centre in Auckland this afternoon. 

Newstalk ZB understands Chris Luxon will try to draw attention away from turbulent affairs overseas - and back to the Government's successes at home. 

But Steven Joyce told Mike Hosking that it's important for Luxon to level with the public. 

LISTEN ABOVE

A former Finance Minister says many people aren't feeling economic relief despite positive markers.&nbsp;
The Prime Minister is giving his State of the Nation speech at the International Convention Centre in Auckland this afternoon.&nbsp;
Newstalk ZB understands Chris Luxon will try to draw attention away from turbulent affairs overseas - and back to the Government's successes at home.&nbsp;
But Steven Joyce told Mike Hosking that it's important for Luxon to level with the public.&nbsp;
LISTEN ABOVE

Steven Joyce: Former Finance Minister says Kiwis aren't feeling economic relief despite positive markers

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ba3c90e0-f704-4307-a84f-b3d601382089/transcript

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

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