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Low hopes for today's GDP figure - Westpac Economist

Author
Newstalk ZB,
Publish Date
Thu, 14 Dec 2023, 8:01AM
Photo / Getty Images
Photo / Getty Images

Low hopes for today's GDP figure - Westpac Economist

Author
Newstalk ZB,
Publish Date
Thu, 14 Dec 2023, 8:01AM

There's less optimism for today's GDP figure than there was for the last. 

Stats NZ will release the September quarter figure later this morning.  

In June, Gross Domestic Product rose 0.9%. 

Westpac Senior Economist, Darren Gibbs, told Mike Hosking that they're predicting a 0.1% decrease to our economy. 

He says the manufacturing sector's seen weak growth, which is a strong economic indicator. 

Gibbs believes the sector will be a drag on our GDP figure, as manufacturing's PMI figure has been at dreadful levels recently. 

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