Tony Alexander's BNZ Weekly Market Survey

Why We Could Grow 5%. Why We Won’t.

The talks I gave on the NZ economy overseas recently and in Wellington and Auckland this week were based around the theme that a disconnect has opened up between what we expect to happen with the economy and our businesses and what we do in response to that. The graph here sums it up. It shows that up to 2009 the NBNZ business activity expectations measure and GDP growth would move in the same zone graphically speaking. Both plummeted into 2009. But whereas activity expectations have gone back to their old zone of movement growth in the economy has remained mediocre.

Click here for the full report (pdf)

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