ANZ says there is a risk of New Zealand dropping into a “double-dip” recession, with the economic mood likely to turn for the worse by November. “While not our forecast, we think there is a material risk that the economy enters a double-dip recession,” ANZ economist Miles Workman said in a research note. iStock The economy looks set for further turbulence by November, ANZ warns. On Friday, it reported that an improvement in consumer confidence also appeared to have “run out of puff for now”, with its ANZ-Roy Morgan Consumer Confidence Index flat in July. But the closed border meant the economy had been spared that phenomenon this year.

Source: Stuff July 31, 2020 00:12 UTC