NZ Economy: 1.8% Growth For 2010, Or More?
January 29th, 2010
Credit agency Dun and Bradstreet is tipping the NZ economy will grow by 1.8% in 2010. But this is somewhat lower than Westpac’s prediction for growth of 3.7% this year and 4.3% next year.
Dun and Bradstreet’s 2010 Economic and Risk Outlook Report says the risk of sluggish and weak growth internationally this year is becoming increasingly apparent despite the healthy pace of expansion in the global economy entering 2010. Westpac says too much weight is being given to global risks.
More than 60 countries around the world were expected to record lower output in real terms in 2010 than they did in last year’s financial crisis. But the Dun and Bradstreet report forecasts positive economic growth at a global level and a promising outlook for NZ. Dun and Bradstreet’s NZ general manager John Scott says 2010 looks relatively promising for many economies around the world,… however markets are increasingly appreciating the risk there could be a renewed economic slowdown this year. Positively for NZ, Aust, our major export market, is going into 2010 in a much healthier state than most developed markets and is well placed to benefit from the global recovery. Dun and Bradstreet says Aust will record GDP growth of 1.8% this year.
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