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An economist says another GDP contraction today would be in-line with the idea we've been in a rolling recession for almost two years. Â
The March 2024 quarter showed just 0.2% growth. Â
BNZ is picking a 0.4% contraction in the second quarter. Â
Chief Economist Mike Jones told Ryan Bridge the Reserve Bank's anticipating a 0.5% contraction, so it would take a real clanger to throw it off course. Â
He says the bigger piece of news for interest rates in New Zealand and the Reserve Bank might be what the US Federal reserve does with interest rates.Â
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