ZB ZB
Opinion
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Rebuilding after Cyclone Gabrielle likely to boost GDP in quarters to come

Author
Newstalk ZB,
Publish Date
Fri, 17 Mar 2023, 10:09am
Photo / NZDF
Photo / NZDF

Rebuilding after Cyclone Gabrielle likely to boost GDP in quarters to come

Author
Newstalk ZB,
Publish Date
Fri, 17 Mar 2023, 10:09am

While Cyclone Gabrielle will have a negative impact on the economy this quarter, it could be a different story later in the year.

The latest GDP figures show a 0.6 percent contraction for the December quarter, with economists predicting another decline to follow, partly driven by recent weather events.

But ANZ Senior Economist Miles Workman told Kate Hawkesby that it will support GDP in the quarters to come.

He says that broken window style of economics is going to give demand for goods and services a bump higher than otherwise as people rebuild and replace.

LISTEN ABOVE

Take your Radio, Podcasts and Music with you