Cheer up.

New Zealand's economy is not sliding into recession.

Sure, it is sliding.


According to a consensus of economists, things will probably get worse before they get better.

But not much worse. And not for much longer.

Then they are expected to get better - from about the start of next year by most estimates.

That's the bit that gets missed in the more gloomy headlines.

Economists tend to keep a laser-like focus on the direction of travel. And for the past 18 months that direction has been downwards.

So that's what they've been writing about.

But almost