Iran Conflict Looms Over NZ Economy: Near Zero Growth Expected

The recent Iran conflict is expected to have a significant impact on New Zealand's economy, potentially dragging it down to near zero growth in the June quarter.

Statistics NZ will release the GDP data next Thursday morning, and market expectations are for a disappointing number due to price inflation caused by the global economic downturn.

The Reserve Bank of New Zealand (RBNZ) has forecasted a flat June quarter, while revised economist expectations suggest that the actual figure could surprise to the upside.