Bite-sized video updates on the New Zealand economy and markets.
Chief Economist Dominick Stephens presents economic insights in this two-minute weekly video.
Global sharemarkets have been on a rollercoaster ride lately. But are they telling us anything about the state of the economy?
Dairy prices have picked up, but the economy continues to face headwinds. A slowdown in growth is on the cards. Combined with low inflation, this means further rate cuts from the RBNZ can be expected.
A string of weak data in China has added to our concerns about the economic outlook... but the New Zealand housing market shrugged off these woes and recorded another strong month in July.
Another week of very weak economic data supports our call for a record low in the OCR of 2.0%.
Chief Economist Dominick Stephens presents economic insights in this bite-sized monthly video updates.
We hope you find these updates helpful in shaping a view of what's in store for you beyond the farm gate.
Plunging dairy prices will be a serious challenge for the whole economy. We foresee slower GDP growth, rising unemployment, a falling exchange rate and the OCR dropping to 2.0%. But the last two of these will be very helpful for many other primary industries.
International dairy prices have continued to fall in a volatile global environment. However, the falling New Zealand dollar provides an important buffer.
Weak returns in the dairy sector might come onto the Reserve Bank's financial stability radar over the year ahead, with important implications for farmers.
We are looking for a farmgate milk price next season of $5.70 per kg - this month's video asks whether this is the new normal. Meanwhile, there is actually quite a divergence in fortunes between New Zealand's main agricultural export products.
All opinions, statements and analysis expressed are based on information current at the time of writing from sources which Westpac believes to be authentic and reliable. Westpac issues no invitation to anyone to rely on this information current t time of writing and intends by this statement to exclude liability, to the extent permitted by law, for any such opinion, statement and analysis. The content of this material is a guide only. It does not take into account your personal financial situation and goals. You should obtain independent professional advice.