Summary : WELLINGTON, July 29 (Reuters) – New Zealand is at growing risk of sliding into a recession in the second half of 2022, some economists said on Friday, as consumers and businesses fret over soaring prices and rising borrowing costs.
Although the ANZ–Roy Morgan’s consumer confidence index released on Friday rose slightly in July, it remains near record lows. The rapid rise in interest rates won’t have helped either,” said ANZ economist Finn Robinson in a statement following the release of the confidence survey.
Economists say that weakness in the data is painting a picture of a softer second half as higher interest rates start to flow through to actual spending, hiring, and building activity.
<<<<<<<<<<<<<<<<
