Transcription of NEW ZEALAND - OECD
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NEW ZEALAND - OECD
3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIESOECD economic OUTLOOK, VOLUME 2018 ISSUE1 PRELIMINARY VERSION OECD 2018197 NEW ZEALANDS olid economic growth is projected to continue at 3% in 2018 and 2019. Privateconsumption will slow with lower net immigration and moderation of wealth gains fromhouse price increases. Residential investment will be supported by demand in Aucklandand government funding through the KiwiBuild programme. Government infrastructurespending will also rise, while business investment should recover from weakness in late2017 as capacity remains increases in interest rates and government spending will improve themacroeconomic policy balance. Both should also serve to reduce housing marketpressures, but resolution of infrastructure and planning constraints in Auckland iscritical to easing affordability challenges, boosting weak productivity and avoiding afurther house price growth is tightening capacity constraintsEconomic growth was solid in 2017, underpinned by consumption and internationaltourism.
3. developments in individual oecd and selected non-member economies oecd economic outlook,volume 2018 issue1–preliminary version © oecd 2018 197 new zealand
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