Economy continues to stall

More bad news on the economic front.

The economy grew a weaker than expected 0.3 per cent in the December quarter, with a boost from the Rugby World Cup and a good season for farmers offset by a fall in manufacturing.

Economists had expected economic growth of about 0.6 per cent in the December quarter.

GDP was up a modest 1.4 per cent for the year ended December 2011, lower than the 1.6 per cent forecast by economists.

I’m not an optimist – but even I’m surprised how bad this is. Despite the RWC we are still stuck in a rut. Not good at all.

How’s that cycle way looking?

Leave a Reply

Your email address will not be published. Required fields are marked *

four × 4 =