NZIER Consensus Forecasts show a wide range of forecasts
September 14, 2020
The latest NZIER Consensus Forecasts continues to show a wide range of forecasts for the economy, reflecting a large degree of uncertainty over the growth outlook. The announcement on 11 August of new COVID-19 cases in the community, and the subsequent return of Auckland to Alert Level 3 and the rest of New Zealand to Alert Level 2, has added to the uncertainty over how the economic recovery will pan out over the coming years. The most optimistic forecast for the New Zealand economy is a decline in GDP of 5 percent on average for the year to March 2021, while the most pessimistic is a decline of 11.8 percent.