NZ Economic Recovery to Remain Slow and Fragile

New Zealand's economic recovery is expected to remain slow and fragile over the coming year, according to the latest NZIER Consensus Forecasts.

The survey, which pools forecasts from eight major banks and agencies including ANZ, ASB, Kiwibank, Westpac, and the Reserve Bank, points to annual average GDP growth of just 1.7% for the year ending March 2027.

Inflation is expected to stay above 3% in the near term before easing towards 2% by the year ending March 2028, as fuel prices ease from their peaks and spare capacity limits broader price pressures.