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By: Newstalk ZB staff | Business News | Tuesday October 9 2012 12:51
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There are fears a slowdown in hiring for the Christchurch rebuild will lead to a slump in GDP growth. The New Zealand Institute of Economic Research has this morning released its Quarterly Business Survey which shows a growing pessimism about the country's economy. The survey's found trading activity has fallen, while GDP growth is tipped to fall from growth of 2.6 percent in the six months to June to just 1.5 percent by the end of the year. The survey shows that while Auckland is growing, the post-quake surge in Canterbury is easing, forcing activity across the country to slowdown. Institute economists say firms are struggling to raise prices given the slow economy - and hiring of new workers across the country has eased off in the past six months. Photo: NZ Herald |
Related Subjects
christchurch | GDP | rebuild |
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