NZIER Consensus Forecasts show a mixed growth outlook amidst higher inflation

The latest NZIER Consensus Forecasts show an upward revision to the near-term growth outlook for the New Zealand economy, but softer growth is forecast for the subsequent year. These revisions reflect recent activity indicators, suggesting that while the New Zealand economy weathered the latest lockdown reasonably well, there is more caution about the longer-term outlook. With the latest Omicron surge widespread across the country, fears of infection or having to self-isolate has seen people limit their movements even though restrictions were relaxed in December last year.