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

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