Economist says NZ is already in a recession

Author
Newstalk ZB,
Publish Date
Thu, 26 Mar 2020, 2:58PM
Photo / AP

Economist says NZ is already in a recession

Author
Newstalk ZB,
Publish Date
Thu, 26 Mar 2020, 2:58PM

An economist says we're already in a recession.

A nationwide lockdown has begun in this country and will go on for at least four weeks to limit the spread of Covid-19.

Kiwibank chief economist Jarrod Kerr told Kate Hawkesby economic activity is contracting.

He says economists are trying to figure out how deep this recession will be.

Kerr says they're expecting a three quarter economic contraction and hoping New Zealand will recover as going into next year.

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