NZIER sees recession ending in 4 weeks, slow recovery through 2009

The New Zealand Institute of Economic Research (NZIER) has forecast the recession will finish at the end of the December quarter and that the economy will recover slowly through 2009 as consumer spending increases because of lower interest rates and lower petrol prices. NZIER said in its Quarterly Predictions it saw the rebound strengthening through 2010. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.