The New Zealand economy is likely to enter a recession next year before a slow and gradual recovery in 2024, but the government accounts are on the course to return to surplus by the end of fiscal year 2025, the official estimates revealed on Wednesday.
Despite the worsening economic outlook, tax revenue is projected to be higher than the previous estimate and the budget is expected to move from deficit to surplus over the forecast horizon, the treasury said in its latest twice yearly Economic and Fiscal Update.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.