COMMENT by Mark Fowler
If you believe the current economic commentary in New Zealand; then the general consensus is that we are in the midst of an economy in a slowdown phase.
The ANZ Business Outlook survey highlighted that residential construction intentions had plummeted (-27.3% drop). A fall in residential investment of that magnitude is suggesting the potential to knock a full percent off GDP growth.
When looking offshore, governments have been prepared to commit to large quantities of fiscal stimulus in an attempt to stimulate growth and activity, quantitative easing or legislated growth for want of a better term.