The responses to the coronavirus outbreak moved with astonishing speed over March, and before the end of the month New Zealand had joined several other countries in a virtual lockdown. This was the right decision to save lives, but the economic cost will be severe, in the opinion of Michael Gordon from Westpac. Key quotes “We estimate that New Zealand GDP will fall by 1% in the March quarter and 14% in the June quarter.” “The end of the lockdown will allow a large jump in economic activity as businesses reopen and as some catchup activity occurs. We are forecasting a 10% lift in GDP for the September quarter, although that would still leave the economy 5% smaller than at the start of the year.” “We expect the unemployment rate to peak at ‘only’ 9% this year.” “We estimate that Government borrowing will increase by around $70bn over the next four years, which would see the net debt to GDP ratio rise from 18.5% now to 40% by mid–2022.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Metals: Iron ore to push into a small surplus – ANZ FX Street 2 years The responses to the coronavirus outbreak moved with astonishing speed over March, and before the end of the month New Zealand had joined several other countries in a virtual lockdown. This was the right decision to save lives, but the economic cost will be severe, in the opinion of Michael Gordon from Westpac. Key quotes “We estimate that New Zealand GDP will fall by 1% in the March quarter and 14% in the June quarter.” “The end of the lockdown will allow a large jump in economic activity as businesses reopen and as some catchup activity occurs. We are forecasting… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
