Outlook – 2023
I’ve taken a quick scan of what the experts are saying with regards to the 2023 outlook. I’ve had a look at both the NZ economy and some of the topics I’ve previously covered, like the labour market and supply chain, as well as looking more specifically at the printing and packaging industry. Hopefully, there’s something that gives you a little food for thought as you head into the holidays.
On Wednesday last week (14 December) the government announced that the country would enter a recession in 2023. The economic and fiscal update from the Treasury forecasts a contracting economy in the second, third and fourth quarters of 2023. The Reserve Bank is even more pessimistic on the back of the steep interest rate rises it has imposed to control inflation.
Easing inflation
Inflation is expected to ease on the back of falling commodity and...