Mark Smith: ASB Senior Economist says signs are pointing towards a greater chance of a recession
Economic signs are pointing towards a greater chance of a recession. Stats NZ data shows sales slumped 2.3 percent over the last quarter, for a second consecutive quarterly drop. ASB Senior Economist Mark Smith says declining sales combined with interest rate increases and low population growth are all contributing. He told Mike Hosking labour market conditions aren't helping lower the risk. Smith says staff shortages are preventing the economy from growing. LISTEN ABOVE See omnystudio.com/listener for privacy information.