On Thursday, I posted the latest Westpac McDermott Miller Consumer Confidence Survey, which recorded the lowest consumer confidence reading in records dating back to the 1980s. Therefore, where household consumption goes, New Zealand’s economy typically follows. First, like everywhere Kiwis cost-of-living has risen on the back of global supply shocks, which has sent inflation soaring. Thus, New Zealand’s economy is headed into recession just in time for next year’s general election. With New Zealand interest rates forecast to rise much further, and house prices set to plunge, Jacinda Ardern is looking more and more like ‘dead Prime Minister walking’.

Source: New Zealand Herald June 27, 2022 12:51 UTC