New Zealand to Enter Recession in 2023 as Confidence Slumps: BNZ
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New Zealand will enter a recession next year that could be deeper than expected, Bank of New Zealand economists said after a survey showed business sentiment continues to slump.
ANZ Bank’s survey of business opinion for June, published earlier Thursday, “was littered with indicators that fit with our view that the economy is headed into recession,” said Stephen Toplis, head of research at BNZ in Wellington. “If anything, they suggest any such recession might be deeper than we have penciled in.”