📰 adviceHQ Economic Update 📰

Financial Adviser, Director from adviceHQ

❌ Unemployment: +0.6% this yr, +1.3% vs June 2022.
❌ Building Consents: -4% in June 2024 qtr, -35% vs June 2022 qtr.
❌ GDP: -0.2% in June 2024 qtr, a 2yr per capita recession.
✅ Inflation: 3.3% and falling, just 0.3% above the target range.
✅ RBNZ OCR: 5.25% and expected to decline.

The NZ economy remains finely balanced, with the delayed effects of the recession still unfolding. Meanwhile, regulators are beginning to respond to these conditions. Today, the US Federal Reserve provided firm direction by cutting rates by 0.5%. Will the RBNZ follow suit and provide similar relief?

If you're concerned about how this may impact your financial position, adviceHQ provides independent financial advice on mortgages, insurance, KiwiSaver, and business/commercial lending. Feel free to reach out to Ben Presling, Michael Williams, or myself to review your current strategy and explore future options.

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