BusinessNZ Forecast Sees NZ Economy Regain Momentum Through 2028
New Zealand's economy is showing resilience despite ongoing global conflicts and heightened geopolitical tensions, according to BusinessNZ's latest Planning Forecast. The forecast shows solid growth through to 2028, with annual growth nearing three percent by then.
BusinessNZ Chief Economist John Pask says the economy has fared better than expected, but notes that uncertainty surrounding the upcoming general election has made investors more cautious. However, this caution hasn't significantly affected investment behavior yet.
Sectoral performance is improving, with agriculture remaining a standout performer due to strong international commodity prices. Manufacturing and construction are also showing signs of recovery, while tourism is moving beyond its post-Covid growth phase into a genuine expansion period.