Economic Update with Brad Olsen

Cyclone Gabrielle has turned an already difficult 2023 into even more of a challenge, at the same time as New Zealand stares down the barrel of the most well-signalled recession in living memory. Inflation remains the chief economic concern for New Zealand and the world in 2023, but the immediate focus is now on the response and recovery across the North Island after the most costly weather event this century. Disruptions to supply, and higher demand to support the recovery across hard-hit local economies, will likely bolster already too-strong inflation, but could artificially soften the blow as interest rates tighten further to realign economic demand and supply. There are no easy answers, and the recovery will not be quick. Difficult choices will need to be made to reprioritise economic activity across the country. Infometrics Chief Executive and Principal Economist Brad Olsen will break down how all these factors interact, and…