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New Zealand Economists Lower 2008 Growth Forecasts, Survey Says
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by Criticom | June 24, 2008 at 03:32 pm
278 views | 5 Recommendations | 2 comments
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Seven of 13 economists surveyed by Bloomberg News predict that the economy was in recession in the first two quarters of the year, which will prompt the central bank to cut interest rates as early as July.
New Zealand economists have slashed their forecasts for economic growth as record-high interest rates slow spending and demand for houses, according to a survey by the New Zealand Institute of Economic Research Inc.
Economic growth will probably slow to 1 percent in the year ending March 31, 2009, from 2.9 percent a year earlier, according to the average estimate of 11 economists surveyed by the Wellington-based institute. Three months ago, analysts forecast 1.7 percent growth in the year through March 2009.
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Maireid Sullivan
Melbourne, Australia
Most RecentMost Recommended Comments (2)
at 23:07 on June 24th, 2008
Criticom, I like this story. It's good stuff.
I'll upload a link to English economics journalist Fred Harrison's short film, "Ricardo's Law"
NOTES: Introduction to the book, 'Ricardo's Law ~ House Prices and the Great Tax Clawback Scam' by Fred Harrison: http://www.fredharrison.org
Ricardo's Law points lawmakers, policy analysts and social reformers toward a model of public finances that is fair and would deliver prosperity to everyone.
Published by Shepheard-Walwyn: http://www.shepheard-walwyn.co.uk
at 05:10 on June 25th, 2008
Great , thank you!