By: Brad Olsen, Infometrics

Duration: 1:01:10

The economic outlook for New Zealand remains cautious, the outlook for interest rates has become the key area of discussion for 2024 as inflation remains stubbornly high, even as the wider economy retreats further.

Spending activity is falling as households tighten their belts – which are set to be tighter for longer given interest rates cuts keep being pushed back. Job cuts have emerged in the economy, even as migration remains at an elevated level.

Concerns remain over how new global and geopolitical challenges could upset world growth and export markets, alongside an unpicking of the Coalition government’s 2024 Budget.