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Only the summary of this update has been prepared in HTML. If you require a full HTML version, please contact [email protected] and cite Fortnightly Economic Update - 18 March 2022 as a reference.
- GDP rebounded 3.0% in the December quarter.
- More timely data point to slower growth in recent weeks.
- High frequency indicators show increasing activity in Auckland as Omicron case numbers fall.
- The conflict in Ukraine is adding to global inflation and slowing growth. If sustained, higher inflation could slow global GDP growth by 1%-point.
- Risks in China are accumulating but substantial policy support is expected to shore up growth.
Tuesday, 22 March 2022