scoop.co.nz 18 Mar, 2021 00:30 am

Another Contraction In Economic Activity. It’s Turbulence.

Scoop Auckland provides news and views from Auckland, New Zealand

Another Contraction In Economic Activity.We expect to see another slight contraction in economic activity over the first quarter of 2021.Although we’ve learned to live and work through various alert levels, economic activity is restricted when social distancing measures are tightened.Timely Kiwibank spend data show how disruptive the lockdown was on Auckland’s economic activity, particularly within the service industry.

And despite the rebound we’re forecasting over this year, economic activity is not expected to surpass the pre-covid peak until early 2022.And on top of this, the March quarter also captured the two Level 3 lockdowns Auckland faced in February.

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